How eradicating corruption boosts government coffers

Free Malaysia Today

Will the government’s proposal, under Budget 2025, to eradicate corruption and improve management of the nation’s finances help to raise revenue?   Read More:  https://www.freemalaysiatoday.com/category/nation/2025/01/03/wiping-out-graft-to-fatten-coffers/   Laporan Lanjut:  https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/01/03/membasmi-rasuah-demi-mengkayakan-negara/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------  Check us out at https://www.freemalaysiatoday.com  Follow FMT on Facebook: https://bit.ly/49JJoo5  Follow FMT on Dailymotion: https://bit.ly/2WGITHM  Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h  Follow FMT on TikTok : https://bit.ly/3uKuQFp  Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX  Follow FMT LinkedIn - https://bit.ly/42YytEb  Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj  Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------  Download FMT News App:  Google Play – http://bit.ly/2YSuV46  App Store – https://apple.co/2HNH7gZ  Huawei AppGallery - https://bit.ly/2D2OpNP   #FMTBusiness #Corruption #Economy

Transcript

00:00Corruption is a national crisis.

00:05Malaysia has lost a whopping 2.3 trillion ringgit

00:08to this menace alone between 1997 and 2022.

00:12That's enough to give every citizen 74,000 ringgit.

00:16A staggering sum when you consider

00:18half the population earns less than 2,844 ringgit a month.

00:24That's why the government is taking a new approach.

00:27Cracking down on corruption and financial mismanagement.

00:30The goal?

00:31To unlock billions in lost revenue without raising taxes

00:34or adding to Malaysia's 1.2 trillion ringgit debt.

00:38Here's what that looks like.

00:39Cleaning up the public procurement process alone

00:42could save 10 billion ringgit.

00:46Plugging leaks in the diesel subsidy system,

00:48that's another 20 billion ringgit.

00:50This money could be redirected to public welfare and infrastructure,

00:53improving life for everyday Malaysians.

01:21But it's not just corruption draining the economy.

01:24Poor investment decisions by government-linked companies

01:27and government-linked investment companies are also to blame.

01:31Kasana Nasional and Pemudalan Nasional Berhad, for example,

01:34lost 43.9 million ringgit in investing in fashion valet Sindram Berhad.

01:40That's why Budget 2025 is proposing bold reforms

01:43to the Malaysian economy.

01:45On top of this, agencies like MACC and the Public Accounts Committee

01:49are set to receive increased budgets

01:51to enhance their effectiveness.

01:53Still, reforms won't work without accountability.

01:56Officials must face consequences for mismanagement

01:59and practices like political appointments in GLC.

02:02And what if the budget is too tight?

02:05What if the budget is too tight?

02:07What if the budget is too tight?

02:09What if the budget is too tight?

02:13and practices like political appointments in GLCs need to end.

02:17Laws like the Public Procurement Bill must also apply broadly

02:20to ensure transparency at all levels.

02:23Pujo Jaya has paved a clear path forward.

02:25It is now time for them to act decisively.

02:28It is now time for them to act decisively.

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