Dr Rais Hussin, the president and chief executive officer of Emir Research, a think tank focused on strategic policy recommendations based on rigorous research) has published an explosive, spine-chilling report about Malaysia’s corruption.
According to Emir Research, the loss to Malaysia due to corruption over the last 26 years could be a staggering RM4.5tn. Alarmingly, this is just a conservative estimate.
The figure is a combination of the economic cost of corruption of RM2.3tn plus an opportunity cost conservatively estimated at another RM2.3tn. The opportunity cost arises from the loss of the investment multiplier effect, ie the ripple effect of the prudent additional government spending that could otherwise have been made.
Emir Research pointed out that “many indirect costs of corruption are bound to remain immeasurable and unaccounted for, as corruption does more than anything else to destroy the various central relationships needed for peaceful, harmonious development – it undermines the very glue that holds society together. It is often at the root of political dysfunction and social disunity.”
Over a decade ago, I chatted with a visiting professor during a flight to Australia.
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The professor told me he had every reason to believe from his number-crunching that young adults in Malaysia could easily have started with a million ringgit each in their accounts, if:
- the wealth of the nation had not been stolen by the rich and powerful and had instead been distributed in a more egalitarian way
- the business community had not cheated in the past in their taxes, business dealings and other ways
- workers, including the parents and relatives of the young adults, had not been short-changed in terms of the wages they had received from their productivity
Today we have hard data to prove a long-held suspicion that the politics and policies of Dr Mahathir Mohamad’s regime have failed the nation and its people, especially the corruption that was spawned during that era.
There is no way we can recoup the mammoth economic losses and opportunity costs, ie the lost opportunities and ripple effect had Malaysia’s financial resources been wisely spent. We cannot set the clock back.
But we, as a people, can rise against all forms of corruption beginning now. For that to happen, we need to think beyond race and religion, and see ourselves as the people of Malaysia.
We need to uphold the concept that the wealth of the nation belongs to all its people, that it is not just the privilege of a few to enjoy at the expense of the masses.
Will the people of Malaysia be able to break free from the bondage of corruption that has made us all poorer and robbed us of a fair share of the nation’s wealth?
We need an awakening to reject corruption. We need to usher in a whole new culture of ethical values and principles. If nothing happens soon, despite this revelation by Emir Research, then there is nothing much that can be done for the country.
We need to refocus and not be derailed by distractions in our fight against corruption. We should start the fight now or forever be overpowered by those who have profiteered stupendously from the corrupt culture of the past.
Will Malaysia see the sun rise again or will we all still be guilty of its failures?
AGENDA RAKYAT - Lima perkara utama
- Tegakkan maruah serta kualiti kehidupan rakyat
- Galakkan pembangunan saksama, lestari serta tangani krisis alam sekitar
- Raikan kerencaman dan keterangkuman
- Selamatkan demokrasi dan angkatkan keluhuran undang-undang
- Lawan rasuah dan kronisme
Wealth may be perceived by trustees to belong to families whether the wealth is public/civil service/Local Authorities corporate/religious/charities/sports or any other trust funds.
Trustees may include leaders be they elected/appointed politicians company directors religious heads professionals others in positions of management including those elites or high academic qualifications or titled.
PAGAR MAKAN PADI MAY BE PERCEIVED TO BE A WORLDWIDE CULTURE AMONG SOME IN LEADERSHIPS/POWER AND DECISION MAKING POSITIONS AS MAY BE EVIDENCED BY INVESTIGATIONS OF AUTHORITIES AND FINDINGS OF AUDITORS GENERAL WHICH END UP WITH NO ACTION THOUGH ONGOING FOR DECADES AND THUS LEADING TO PERCEPTION THAT CORRUPTION IS ACCEPTABLE.
Bless al
Billions dollars of state assets funded by taxpayers have been [allegedly] heaped to a local trader who operates an ATM to “donate dirty funds” to politicians and lined up pockets of his greedy sidekick to enrich his family. Such thievery is no different from 1MdB thefts. Unless investigated and ” amaln ini dinoktah” , the government that claim to be intolerant to corruptions and abuse of power is but empty rhetoric.
When anyone is the Trustee of any country fund estate organizations having substantial wealth assets etc it normally makes the Trustee to use the Trust wealth with the assumption that the Trust wealth is personal wealth to be used abused as one likes especially when internal controls to monitor management of Trust funds are weak or ineffective and if lack deterrent punishment in case of misuse abuse of Power It is possible as may have happened that fraud corruption nepotism cronyism practices would increase and expand.
Above may be perceived to be a worldwide culture accepted by people as has been ongoing for decades.
Bless all