Academic: Is Putrajaya really taming the GLC ‘monsters’?

UM's Terence Gomez says no reform committee has been set up to review GLCs.

Academic Terence Gomez says there has been no change in the country’s GLCs.

KUALA LUMPUR: An academic today questioned Putrajaya’s commitment to reviewing government-linked companies (GLCs) which Prime Minister Dr Mahathir Mohamad previously labelled as “monsters” that had deviated from their original purpose.

Universiti Malaya’s Terence Gomez said so far, no reform committee had been set up to review GLCs.

“Instead of dismantling the monsters, we see no change,” he said at the launch of the Malaysia GLC Monitor 2018 report at Universiti Malaya here today.

Prior to the May 9 general election, Mahathir said GLCs had deviated from their original purpose of helping the poor.

Mahathir, who is chairman of Pakatan Harapan, said the GLCs had become so huge and unsupervised that they could not be controlled and made to follow policies backed by the government.

He said this needed to be corrected and more chances given to “poor people regardless of their race”.

Gomez, who called for an operational oversight body for GLCs last year, also questioned the appointment of politicians to statutory bodies and investment holding companies like Khazanah Nasional.

Mahathir and Economic Affairs Minister Mohamed Azmin Ali were appointed to the Khazanah board in June.

“This is the same government which in its manifesto said no politicians would be appointed to the board,” Gomez said.

He also reiterated his call for Putrajaya to be transparent in reshuffling GLCs.

In the spirit of reform, he said, the government must inform the public how and why the GLCs were being reshuffled.

“These are the questions we have to ask. Once you know, you will know who are the elite in power.” - FMT

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