Kuala lumpur: The Dewan Rakyat concluded its session on July 16, 2026, with the passage of two significant bills: the National Trust Fund (KWAN) Bill 2026 and the Statistics Bill 2026. These legislative measures aim to improve governance practices and modernize the nation's legal framework.
According to BERNAMA News Agency, the Second Meeting of the Fifth Session of the 15th Parliament spanned 16 days, starting on June 22. The National Trust Fund (KWAN) Bill 2026 was passed to fortify the fund's legal structure, ensuring consistent inflows, disciplined withdrawals, and accountability. It also aims to create a lasting financial reserve for future Malaysian generations. Deputy Finance Minister Liew Chin Tong, who tabled the bill, noted that KWAN's assets amounted to RM22.43 billion by the end of 2024, with Petronas as the sole voluntary contributor, adding RM13.5 billion.
The bill mandates a minimum contribution rate of 0.1 percent, highlighting the importance of maintaining intergenerational savings across different fiscal cycles and governments. Any alterations to the contribution rate require parliamentary approval. Withdrawals from KWAN are restricted to unforeseen needs related to education, healthcare, and climate change mitigation and adaptation.
The Statistics Bill 2026, also passed on July 16, seeks to replace the outdated Statistics Act 1965. Economy Minister Akmal Nasrullah Mohd Nasir, who presented the bill, emphasized its role in producing data and statistics that better reflect Malaysia's current social, economic, and environmental conditions. The new legislation establishes a National Statistics Council to guide statistical matters and uphold international best practices.
The bill incorporates recommendations from the United Nations and strengthens data confidentiality protections, adhering to the United Nations Fundamental Principles of Official Statistics.
Additionally, the Dewan Rakyat approved a motion on July 15 to allocate RM14.5 billion from the Malaysian Government Investment Issues (MGII) for the January-May 2026 period into the Development Fund (KWP). Deputy Finance Minister Liew Chin Tong highlighted that the Development Fund is financed through transfers from several accounts and various development receipts.
The session also addressed issues such as investments by the Retirement Fund (Incorporated) (KWAP) in eFishery, which faced financial report manipulation, and the government's liabilities concerning 1Malaysia Development Bhd (1MDB). The government has settled RM42.5 billion in 1MDB's debts, with RM20.1 billion still outstanding without further recoveries.