IDEAS says the legislation should provide MPs with better access to scrutinise mid-term fiscal strategies.
IDEAS’s Sri Murniati says the Dewan Rakyat should devote extra time to ensure reform bills are given more ‘holistic consideration’, taking into account suggestions from backbenchers and the opposition.
While the Institute of Democracy and Economics Affairs lauded the government’s commitment to improve public financial management through the bill, it also said the legislation should provide MPs better access to scrutinise various mid-term fiscal strategies.
“Also, while the minister is required in Section 16 to formulate a policy on debt management, there is no corresponding requirement to disclose this policy in detail in the budget documents.” She noted that the bill also includes a limit to providing guarantees to government entities, including public-private partnerships in the consideration of fiscal risk.
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