PM: PAC report on 1MDB proves Dr M wrong

PETALING JAYA: Prime Minister Najib Razak says the report by the Public Accounts Committee (PAC) shows RM42 billion is not missing from 1Malaysia Development Berhad (1MDB), as alleged by former Premier Dr Mahathir Mohamad.

“Equally, it is now clear that Tun Mahathir’s allegations against 1MDB have been false.

“He was motivated by personal interests, not national interests, and a desire to unseat the government,” he said in a statement released today.

“However, the report has identified weaknesses in 1MDB’s capital structure and management.

“We will study and act on the report’s recommendations.

“We must ensure that lessons are learned, and action will be taken if any evidence of wrongdoing is found.”

Najib said following multiple grave allegations made against 1MDB, including by Mahathir, he had instructed the Cabinet to ask the Auditor- General in March 2015 to conduct an independent investigation into 1MDB’s financial accounts.

“To ensure that this was a transparent process, we also instructed that the findings be passed for review to the Public Accounts Committee – a bi-partisan body that includes Opposition parliamentarians.”

Najib said after an exhaustive process, the PAC today released its report with its findings to Parliament.

“This report represents a consensus by the PAC members, and its findings are based on facts and hundreds of hours of reviews and investigations.

“I would like to thank the National Audit Department and PAC for producing a comprehensive, conclusive and definitive report.

“We will continue to focus on our economic plan and strengthening the economy – which has continued to show resilience in the face of global challenges,” the prime minister said.

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