Minister backs law aimed at curbing economic sabotage

Datuk Seri Azmin Ali speaks during the Anti-Corruption Summit 2018 at the Istana Hotel in Kuala Lumpur October 30, 2018. — Picture by Yusof Mat Isa
Datuk Seri Azmin Ali speaks during the Anti-Corruption Summit 2018 at the Istana Hotel in Kuala Lumpur October 30, 2018. — Picture by Yusof Mat Isa

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KUALA LUMPUR, Oct 30 — A federal minister said today he supports a proposed law aimed at curbing economic sabotage.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said his ministry welcomed the Economic Sabotage Act, as proposed by National Centre for Governance, Integrity and Anti-Corruption (GIACC) Director-General Tan Sri Abu Kassim last month.

“Certainly we welcome this because it doesn’t help the economy with all these political connections and support from ministers and politicians.

“Some, when they secure a project, they immediately sell it off.

“Our experience with the AP and similar permits given to them, is that they sell it off for immediate gains,” he said.

He said such actions could in the future be considered as economic sabotage, and that strict punishment would follow for those found in the wrong.

“Certainly we want a serious penalty or punishment for those who commit these offences.

“This is at the preliminary stage, where the GIACC recommended this proposal, and we will see that this will be discussed further,” he said after delivering his closing address at the Anti-Corruption Summit 2018 in Hotel Istana this evening.

Azmin was, however, non-committal when asked on a possible timeline that would see the Act being enacted.

“We need to see because there are other provisions and Acts that we should be able to strengthen without having to introduce a new law,” he said.

The Economic Sabotage Act was mooted by Abu Kassim during the “Bumiputeras and Nation Congress 2018” early last month.

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