Ensure oil money put into good use, Putrajaya told


Dateline 2013-06-07, Malaysian Insider:

DAP assemblyman Yeo Bee Yin called for a number of legislative reform today to ensure greater transparency and accountability in managing Malaysia’s oil wealth.

This comes as Revenue Watch Institute’s (RWI) report on government disclosure in oil, gas and minerals management in 58 resource-rich countries released in April saw Malaysia scoring three per cent lower than in 2010, performing poorly in all three criteria touching on matter of accountability like reporting practices and safeguards and quality control.

“It is time for Malaysia to move to greater transparency and accountability in governing the wealth of oil lest we fall into the category ‘curse of oil’ or ‘Dutch Disease’,” said Yeo in a statement here, referring to negative consequences arising from large increases in a country’s income.

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This entry was posted on Friday, June 28th, 2013 at 6:00 am and is filed under Malaysia, Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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