SERDANG, 27 March 2016:

A panel is looking into drawing an act or law which can control the channeling of political contributions or funds to political parties or individuals.

Deputy Finance Minister Datuk Johari Abdul Ghani said today the panel was studying the existing related acts or laws before making a decision on the matter.

“We wait for the panel. They are discussing on a new law that can be applied and we are waiting for the decision,” he said when asked whether the government would stop the channeling of political funds from overseas.

Minister in the Prime Minister’s Department, Datuk Paul Low Seng Kuan had last year said that a mechanism was needed to ensure that political parties received funds from the proper channels.

Yesterday, former prime minister Tun Dr Mahathir Mohamad urged political parties to stop receiving funding from overseas.

Johari said any move with regard to political contributions or funding would be tabled for approval in Parliament.

“We will have a specific law which can be applied to all, regardless of whether it is a political party from the ruling government or opposition, big or small, or who the individuals are.”

On another development, Johari regarded the increase of 4.2% in the Consumer Price Index in Malaysia for February 2016 as an immediate effect of the implementation of the Goods and Services Tax (GST) last year.

“Some traders had raised prices, especially on the uncontrolled items and had not got used to the GST as they were not paying GST before.

“I believe that when GST becomes part of the system, prices will come down automatically.”

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