GLCs should be made accountable to parliament, says former Khazanah MD

04 Apr 2019 / 19:10 H.

KUALA LUMPUR: Big government-linked companies (GLCs) should be made accountable to Parliament to answer about any progress and development they have made, said former Khazanah Nasional Bhd managing director Tan Sri Mohd Sheriff Mohd Kassim (pix).

He said this proposal was not a new thing as developed countries such as the United States had already implemented the exercise.

“The parliament is now establishing select committees. I hope one of the select committees would take on the responsibility of getting the big GLCs to answer on their operations.

“It’s not a new thing. The US Federal Reserve chairman himself has to answer to the (US) congress three to four times a year on the conduct of banking operations and fiscal policy,“ he said during a panel session at the Perdana Leadership Foundation CEO Forum 2019 here today.

As the current chairman of PLUS Malaysia Bhd, Mohd Sheriff said he was willing to be called on by the select committee to answer regarding the the company’s corporate governance and management.

“This is important to ensure that the GLCs are well run, with good leadership at the board level and professional management at the executive level,“ he added.

Speaking to reporters after the session, Mohd Sheriff refused to comment on the possibility of the government injecting funds into PLUS, which is jointly owned by Khazanah Nasional and the Employees Provident Fund.

“I cannot comment on this issue. (You’d) have to ask the government,” he said.

Yesterday, the Works Ministry informed the Dewan Rakyat that it would submit all toll-related proposals, including to eliminate toll collection, to the Cabinet in June.

This was in response to a question on whether the government planned to inject funds into PLUS in a move to abolish tolls at expressways.

Deputy Works Minister Mohd Anuar Mohd Tahir said the ministry had appointed an independent audit consultant to help analyse the data and advise on the proposals. — Bernama

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