Allowing free access to federal funds a bad idea, says think tank

[superadmin]

KUALA LUMPUR: The Institute for Democracy and Economic Affairs (IDEAS) feels that while it recognises the immediate need for fiscal assistance to cushion the negative impact of the movement control order (MCO), completely abandoning the relevant constitutional provisions under the emergency period is unnecessary.

“The Federal Constitution envisions Parliament playing an important role in providing checks and balances when it comes to the use of the people’s money.

“It mandates the government to seek parliamentary approval for expenditures or withdrawals from consolidated funds, except for charged expenditures, statutory loans, and some trust fund-related expenditures,” IDEAS said.

Expressing concern with the new Emergency Ordinance gazetted yesterday, the non-profit research institute said indeed, Article 104 of the Constitution states that with the exception of these three types of expenditures, “no money shall be withdrawn from the Consolidated unless they are authorised by a Supply Act.


- More -