Budget 2027: Government-owned Entities Bill to be drafted next year, RM1.1b for enforcement agencies’ operations

KUALA LUMPUR, Oct 9 — Prime Minister Datuk Seri Anwar Ibrahim announced that government-owned entities and enforcement agencies such as the police and the Malaysian Anti-Corruption Commission (MACC) will receive RM1.1 billion in Budget 2027 to enhance their operations. The budget includes provisions to draft a new Government-Owned Entities Act aimed at promoting good governance and preventing financial scandals like 1MDB from resurfacing.

Anwar highlighted the upcoming enforcement of the Government Procurement Act in 2027, which will ensure greater transparency by detailing projects, including contractors and contract values. He emphasized that revenue generated from loan repayments, including those disbursed to federal statutory bodies, must be allocated solely for the intended purposes and recipients.

Additionally, Anwar pointed out the significant reforms his administration has implemented since 2022, including the repeal of mandatory death penalty and suicide penalties, and the enactment of the Online Safety Act and the Anti-Bullying Act. He acknowledged that the most challenging reforms involve limiting his own power, as he seeks a two-thirds majority to restrict a prime minister's tenure to two terms.