PETALING JAYA: The All-Party Parliamentary Group on Political Financing Bill (APPGM) has completed its final round of discussions and consultations on the Political Financing Bill.
"In the process of drafting the Bill, the APPGM has received feedback from a wide range of stakeholders such as senior party leaders, grassroot political and community leaders and civil society organisations (CSOs)," said the group in a statement on Thursday (Nov 9).
"We have organised workshops in Pahang, Johor, Sabah, Kuala Lumpur and Malacca, where local politicians and non-governmental organisations, university students and members of the public gave valuable feedback regarding key provisions of the Bill.
It said the Bill released on Thursday is updated from the earlier version submitted as a Private Member's Bill on July 13, 2022.
"One of the most important provisions in the Bill is the allocation of public funding to political parties, a system where a portion of the national budget was allocated towards political party activities.
"It is a mechanism that can ensure greater equity between parties, reduce dependence on private donors and cultivate healthier competition among political parties.
The group said implementing a public funding system will incur some costs for the government, but the spending was necessary for the long-term sustainability of Malaysia's democracy.
"APPGM remains ready to assist and engage with the government in drafting the legislation which will eventually be passed by Parliament as the Political Funding Act (PFA).
"We reiterate our belief that a PFA was urgently needed to further advance Malaysia's journey towards a more competitive and sustainable democracy," it added.
Among the key recommendations of the APPGM Bill is the establishment of a new regulatory Political Financing Commission, with its members appointed by the Yang di-Pertuan Agong.
It also said the Commission must have power to obtain information from political parties and candidates with investigative powers, empowered to issue regulations with approval from Parliament.
