KUALA LUMPUR: The government is finalising the Government-Owned Entities Bill to strengthen oversight, governance and financial management of government bodies and agencies, with the aim of tabling and passing it in the Dewan Rakyat this year.
Prime Minister Datuk Seri Anwar Ibrahim said the proposed legislation was important to ensure government agencies and entities, including those linked to the Bumiputera community, comply with stricter regulations to prevent irregularities that could result in billions of ringgit in losses.
“God willing, we will table this bill on government-owned entities to strengthen oversight and establish clearer regulations.
“We hope to pass it this year so that all government agencies will be subject to stricter rules,” he said during the Minister’s Question Time in the Dewan Rakyat.
He was responding to a supplementary question from Datuk Seri Dr Zaliha Mustafa (PH-Sekijang), who sought clarification on measures by the government and the Finance Ministry to tighten financial procedures, particularly for large-scale investment approvals by government-linked companies (GLCs) and government-linked investment companies (GLICs).
-AWANI
