Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Syed Saddiq: Don't burden future generations with fund's rescue

Your browser does not support the audio element.

Syed Saddiq: Don't burden future generations with fund's rescue

Syed Saddiq warned against placing the financial responsibility of rescuing the Tabung Haji fund on future generations and taxpayers. He criticised opposition MPs who boycotted the parliamentary debate on the Royal Commission of Inquiry report regarding the pilgrimage fund, citing the prime minister's absence rather than the duty to protect the institution crucial to the Malay-Muslim community.

While acknowledging Anwar's response to criticism over the fund's management, Saddiq stressed that Parliament should not be a one-man show, even if the PM is unwell. He questioned whether taxpayers and younger Malaysians would bear the cost of rescuing the troubled fund, noting that they have already covered over RM10 billion in bailouts.

Saddiq advocated for a multi-agency task force to scrutinize troubled investments, including Felda, FGV Holdings Bhd, and the Eagle High plantation deal, and urged amendments to the Tabung Haji Act 1995 to end political appointments and adopt a transparent, merit-based selection process. He urged bold action against those responsible for the fund's issues, regardless of political affiliation, emphasizing the rights of over 10 million depositors and Muslims in Malaysia.

Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at nst.com.my →

More in Finance & Markets

More from Tuesday 11 August →