Finance Ministry: Tabung Harapan funds will be audited to ensure integrity

KUALA LUMPUR (August 13): The Tabungan Harapan Malaysia fund, which stands at RM173 million as of Aug 9, has yet to be used, said the finance ministry in a written parliamentary reply cited by Free Malaysia Today (FMT). 

A Tabung Harapan committee was in the midst of drawing up a payment mechanism to settle the national debt, which would be made public once a decision is made. 

“It will be done according to the rules and laws that are being looked into,” said the written reply to Alexander Nanta Linggi (PBB-Kapit), who asked the government to explain how funds from Tabung Harapan would be used to settle the national debt.

The National Audit Department would be tasked with auditing the fund’s accounts to ensure integrity, and an audit firm would be appointed, to release a detailed report on the fund. 

Funds established to settle the country’s debts were overseen by the Treasury secretary-general and members from other ministry departments, FMT reported.

“Tabung Harapan will not be able to settle the national debt that the present government inherited from the 1MDB scandal,” the reply said.

“The setting up of the fund was part of a patriotic act by Malaysians.”

On May 9, it was announced that the national debt stood at RM1 trillion.