00:00Budget 2025 proposes combating corruption and financial mismanagement
00:06to boost revenue without increasing the national debt of RM1.2 trillion
00:10or relying on unpopular taxes.
00:12Think Tank, Amir Research, estimates that Malaysia lost RM2.3 trillion
00:17to corruption from 1997 to 2022,
00:20which would be enough to give every Malaysian RM74,000 each.
00:25The government also claimed that enhancing public procurement
00:28and subsidy programs could save RM30 billion annually,
00:31which could then be used to meet public needs.
00:35It's unconscionable to imagine that you can then propel the economy
00:40at the same time condone these excesses,
00:43partly due to corruption, partly to flawed policies,
00:47partly to maybe policies that seem inconsistent with the conventional thinking.
00:56Missteps in investments by government-linked companies
00:59like the RM43.9 million lost in Fashion Valet
01:02underscore the need for more prudent financial management.
01:06As such, Budget 2025 proposes reforms such as mandatory open tenders,
01:10enhanced auditing powers to prevent closed-door deals,
01:13and improved financial oversight and tracking taxpayers' money.
01:17Moreover, holding those responsible for financial mismanagement accountable
01:20and extending reforms to include all sectors receiving public funds
01:24are seen as critical steps for a healthier Malaysian economy.
01:28Natasha Buz, FM2 News.
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