KUALA LUMPUR: Malaysia needs to introduce a legislative framework for political financing, says G25.
The group of prominent retired civil servants in a statement on Monday (Jan 20) said as political parties need money to carry out their activities, the law should provide the framework governing their efforts to collect donations from the public, rich individuals as well as from private foundations and corporate bodies.
"The law is important because it will provide a level playing field when it comes to fundraising activities for big and small political parties.
"This way no one has an unfair advantage over his or her competitors.
"Having a law will provide comfort to the public that rival political parties are given equal opportunities to campaign for funds.
"It will protect the public from scams and irresponsible groups trying to go for quick money as well," the statement read.
The group said this law will encourage the public to donate their spare cash to help political parties and election candidates if they see that politicians are made accountable for the funds that they raise.
"There is currently plenty of scepticism around politicians raising funds.
"If there is a law to regulate political funding, more individuals, institutions and corporate organisations will be willing to offer political funding.
"In the West, rich individuals and big companies take pride in letting the public know that they contributed to political parties and election candidates.
"In Malaysia, every donation is secret as donors fear being labelled in derogatory terms," it read.
The group said that such secrecy is not healthy for politics.
"The law should make it clear that no foreign funding is allowed as well.
"This is important to protect foreign influence on our political activities as it can be dangerous to our national interests," it said.
