OCTOBER 6 — After the recent Pakatan Harapan (PH) presidential council meeting, Prime Minister and Chairperson of PH, Tun Mahathir, highlighted that PH’s financial situation is at a critical level and needs funds to stay afloat.

This is indeed an important issue in the context of Malaysia Baharu, as it is closely linked to the reform on political financing.

For many years, Umno and BN has resorted to patronage, money politics, and rent-seeking to sustain their political activities and survival. This is best explained by the seminal work of Prof. Edmund Terence Gomez and Prof. KS Jomo entitled Malaysia’s Political Economy: Politics, Patronage and Profits published in 1999.

Alternatively, some may even resort to more direct measures, such as kleptocracy and "donations”, for political (and personal) funding.

Therefore, PH should foremost be commended for thinking through this issue critically, as opposed to resorting to Umno-BN’s method of patronage, abuse of state funds, and kleptocracy to sustain their political survival.

PH’s manifesto on political financing

Tun Mahathir need not go far to look for a possible solution. PH’s manifesto itself has already stated the correct policy direction on political financing.

As per Promise 18 of the manifesto, PH has pledged to introduce a new Political Financing Control Act, with the following main principles: