Azmin: Dr M doesn’t have iron grip over GLCs, he delegates power to ministers

KUALA LUMPUR, Oct 30 — Datuk Seri Mohamed Azmin Ali has denied today a report by a think-tank suggesting that Tun Dr Mahathir Mohamad is directly controlling the country’s economy through government-linked companies (GLC).

The minister of economic affairs said all Cabinet members have equal responsibilities in dealing with GLCs under their respective ministries, as the prime minister delegates his authority.

“No, he delegates, that’s the reason why some of the agencies that used to be under PMD, now he has delegated to other ministries, and we work as a team,” he told reporters in the Parliament lobby, in reference to the Prime Minister’s Department.

“In Cabinet, we discuss many issues, I think Dr Mahathir has provided leadership to the Cabinet members. You must understand most Cabinet members are new, but we are prepared to learn, we committed to work as a team, and we need his to continue and lead us for the next many years.”

Earlier today, Institute for Democracy and Economic Affairs (IDEAS) released a report saying that the number of GLCs that used to be under the Ministry of Finance has been reduced significantly, after many were placed under the PMD.

IDEAS Senior Fellow Terence Gomez delivers a speech during a forum at the Asian International Arbitration Centre in Kuala Lumpur October 30, 2019. — Picture by Choo Choy May

Economist and IDEAS senior fellow, Edmund Terence Gomez, said Dr Mahathir now has a strong grip on the corporate sector following what he called “covert” reconfigurations after the change of government last year.

The report gave examples of sovereign wealth fund Khazanah Nasional Bhd and the leading Bumiputera investment fund Permodalan Nasional Bhd, that were transferred to the department from Finance Ministry last year, which he suggested benefits Parti Pribumi Bersatu Malaysia which is chaired by Dr Mahathir.

Azmin explained today that the decision to restructure the ministries was discussed by the Cabinet, which then led to the formation of a ministry helmed by him to enhance the country’s economy.

“And that was the reason why the prime minister decided to form the new ministry. And this new ministry office, there are some agencies, not all agencies will be parked under the MEA,” he said, referring to his ministry.

“It is not about me having allies with Bersatu or any other personalities. I’m here to serve the people and to work together with the Cabinet and prime minister to rebuild the economy.”