KUALA LUMPUR, Oct 30 — Finance Minister Lim Guan Eng sought to assure the public today that government-linked companies (GLC) are being headed by corporate professionals and not political appointees.
In an interview by state broadcaster RTM in its Bicara Politkonomi show hosted by Sayed Munawar Sayed Mohd Mustar, Lim said GLCs are currently run and managed by industry experts and professionals.
“This is a narrative that they wanted to relay to the new government, but if you look at what is being practised, all [GLC] board of directors are professionals,” he said, in reply to allegations that Pakatan Harapan (PH) is practising the same patronage politics by filling positions in GLC with political appointees.
“Even if there are members of the board of directors that are politicians from Pakatan Harapan, they are only normal members or only active at the state level and not at the national level and there are no [Pakatan Harapan] elected representatives that are members of GLC board of directors.”
With GLCs managed and run by professionals, Lim said these companies will continue to see better profits and governance that will ultimately benefit Malaysians.
Lim explained that PH’s political appointees may make up more than 10 per cent of board of directors’ positions in any particular GLCs, but assured that they are professionals in their respective field.
“There are people who would aggravate the situation by saying that these 10 per cent is akin to 100 per cent [of the positions].
“You can’t say that these 10 per cent means that we are not committed but before this almost 100 per cent,” said Lim.
Lim was referring to PH’s institutional reform pledge to free government-linked investment companies (GLIC) and GLCs of political patronage, starting with barring politicians from sitting on their boards.
Lim assured that PH is serious in institutional reform, unlike the Barisan National administration who previously had placed “nearly 100 per cent” of political appointees in GLC and GLIC.
Earlier today, the Institute of Democracy and Economic Affairs said in its GLIC monitor concluded that Prime Minister Tun Dr Mahathir Mohammad had consolidated indirect control of government-linked investment companies (GLIC) via appointments to key ministries.
