Kuala lumpur: The Political Financing Bill should set clear penalties for political parties that breach contribution limits or fail to report their funding, while also establishing an independent regulatory body to ensure the law is effectively enforced.

According to BERNAMA News Agency, Deputy Director of the Malaysian Anti-Corruption Commission's (MACC) National Governance Planning Division, Mohd Gunawan Che Ab Aziz, stated that the matter is among five key governance principles to consider when drafting the Bill. These principles include transparency, accountability, equity and fairness, independence, and inclusiveness and participation.

Mohd Gunawan emphasized that under the principle of accountability, there should be clear penalties for breaching contribution limits or failing to report funding, along with a responsible regulatory body. The regulatory body has yet to be decided, with suggestions including the Election Commission (EC), the MACC, or a newly established special commission.

He made these remarks while speaking as a panelist at the Political Financing Reform Forum: Balancing Transparency, Accountability and Democratic Participation, organized by the Legal Affairs Division (BHEUU) of the Prime Minister's Department.

He noted that the matter is still open for further review, and BHEUU will determine the most suitable proposal before presenting it to Parliament. On the principle of equity and fairness, he stressed the importance of contribution limits and conditional public funding to ensure a transparent, level playing field for political parties and to strengthen democracy.

Mohd Gunawan also highlighted that the regulatory body must remain independent and free from interference by any party, including the ruling party or external interests, to effectively enforce the law.

Regarding inclusiveness and participation, he advocated for a law-drafting process that allows civil society, stakeholders, and political parties the opportunity to provide their views. He emphasized that political parties, being key stakeholders, should be involved in developing comprehensive legislation that serves its intended purpose without restricting democracy.

Additionally, Mohd Gunawan pointed out that the Political Financing Bill is necessary to address gaps in existing laws, such as the Societies Act 1966 and the Election Offences Act 1954. He concluded that greater transparency in political financing is expected to boost public trust in the country's system and governance, enhancing Malaysia's international standing.