Future generations left to pay for TH's RM10bil bailout, says Syed Saddiq

KUALA LUMPUR: Dewan Rakyat was informed that the financial implications of Tabung Haji's past investment losses could fall on future generations and taxpayers if recovery efforts are not fully pursued, according to Syed Saddiq Syed Abdul Rahman (Muda-Muar). The issue lies not just in the magnitude of the losses, but in whether the cost of rescuing and stabilising the pilgrimage fund will be shouldered by younger Malaysians.

Syed Saddiq emphasized that when there are losses and high hibah payments continue, the money does not appear out of thin air; it represents a burden being passed from one generation to the next. The young people and taxpayers today are the ones who must cover over RM10 billion in bailouts required to save Tabung Haji, he pointed out.

He also questioned the government's commitment to the recommended RM1.7 billion annual fiscal injection under the fund's recovery plan, stating that merely putting measures on paper does not resolve the institution's problems unless financial responsibilities are met. He called for amendments to the Tabung Haji Act to end political appointments and ensure a transparent, merit-based selection process.

Syed Saddiq urged the government to act on the Royal Commission of Inquiry (RCI) findings regardless of political affiliations, urging courage in taking action, irrespective of whether those actions are directed at friends or opponents.