MEA pushes for parliamentary committee on good economic governance

KUALA LUMPUR: The Malaysian Economic Association (MEA) is continuing its push for a Parliamentary Select Committee (PSC) for growth through a “proper system” of economic governance.

MEA immediate past president Tan Sri Mohd Sheriff Mohd Kassim said compliance with global governance standards was not enough.

“Recent developments demonstrate that good economic governance at all levels is required to sustain economic fundamentals and macro-economic stability.

“Since the Asian (financial) crisis (of 1997), Malaysia has broadened and deepened adoption and compliance with financial and corporate governance that is aligned with international standards, but this is not enough,” Mohd Sheriff said at a media briefing here yesterday.

MEA will hold a day-long forum here on Thursday on national economic governance and its relation to sound economic growth while addressing the role of parliamentarians in ensuring that the government practises good governance.

Later, when asked to elaborate, Mohd Sheriff said the PSC should follow the Westminster model and be made up of researchers and experts who could advise the government on good economic policies.

For transparency and good economic governance, just having the Public Accounts Committee was not enough, he said.

“A PSC (on economic governance) would help us engage the public more, and that is as it should be,” he added.

The forum will be attended by experts and members of parliament from both developed and emerging economies, including the UK, Australia, Malaysia and other Asian countries.

The registration fee for the forum, which is open to all, is RM250 for non-members, RM200 for members and RM50 for students. – Bernama