It’s no secret that Malaysia may very well be one of the most corrupt countries in the world. But, just how much is Malaysia losing out on to corruption?
Based on a report by Sinar Harian, Malaysia apparently suffers losses of RM40 billion to RM60 billion on a yearly basis, thanks to corrupt practices as well as the lack of integrity, conflicts of interest and lack of transparency in the management of the country.
On top of that, it was revealed that Malaysia lost RM1.8 trillion through illegal financial flows from 2005 to 2014, stemming from corrupt practices, as shared by Datuk Hassamuddin Yaacub.
He, who is the Team Head of the Rasuah Busters and the Chairman of the Board of Directors of Karangkraf Group, said that the RM1.8 trillion could have been used to prepare five rounds of Budget 2022, for the interest of the country and the well-being of the people.
Mismanagement and corrupt practices also caused the loss of 30% of the value of Malaysian public projects.
“This means that the country can save up to RM400 billion if we pay 30% less for goods and services provided by contractors and vendors in the 12th Malaysia Plan (12MP).”
This information comes in conjunction with International Anti-Corruption Day, held on 9 December.
“Rasuah Busters invites the general public of all walks of life to join forces and resources to make Malaysia a truly corruption-free country.
If corrupt practices persist and are not addressed promptly and comprehensively, it (corruption) can hit the economic curve more quickly and severely. Therefore, the people need to stand up to make the fight against corruption a jihad, regardless of the size of the bribe offered, given and accepted”, he added.
It’s truly saddening to think about how much our country could prosper with the money that was lost to corruption and how much good the money could have done for our community.
What social causes do you think the RM1.8 trillion could and should have been used for? Let us know in the comment section.
