The Malaysian Anti Corruption Commission (MACC) is on the right track to go after sharks such as former finance minister Tun Daim Zainuddin for failure to declare asset. Media reports also indicated that the sons of former prime minister Tun Dr Mahathir Mohamad would be charged in court if they failed to declare their assets.
What change can be brought upon Malaysians if the 85 year old Daim is convicted and imprisoned. As it is he is already blind one eye and wheel chair bound?
The man on the street have been angered by the partial pardon of former prime minister Datuk Seri Najib Razak. Najib was sentenced to 12 years in prison and RM210 million in fine.
A partial pardon granted by the Pardon Board halved the imprisonment and gave a 76% discount on the fine.
It would be more beneficial if those charged part with their ill gotten wealth that has led to an wealth imbalance among Malaysians.
When one looks at the probe conducted by the US regarding 1MDB they have focused on regaining assets purchased using 1MDB funds.
If authorities authorities take up a similar approach, it would assist Malaysia’s economy in the long run.
The reality for ordinary Malaysians is there is going to subsidy cuts, rise in water bills as well as taxes. The government also intends to assist via targetted subsidies that would be dished out once PADU is operational.
Lessons from neighbours
Had the assets of this nation not be squandered by certain individuals, we Malaysians would not be in such a dire situation.
We should also learn the lessons from our neighbours – Ferdinand Marcos of the Philippines and Sukarno of Indonesia. Both were heads of their nations and both had their fair share of scandals.
Marcos’ wife, Imelda is notoriously known for her massive collection of footwear. After Marcos was overthrown, the island state did not regain what was looted.
Malaysia cannot afford to not learn this learn.
It is time to pass an amendment so that those charged over this type of offence be allowed to part away from 75 to 80 percent of their wealth.
Alternately a separate law should be tabled to enable the state to confiscate the ill-gotten wealth so that the masses can be given financial assistance.