Report: Concern grows over Daim-led council’s sway on Pakatan policies, economy
Can Mahathir even stop someone like Daim?
(MMO) – There is increasing apprehension both within the ruling Pakatan Harapan (PH) coalition and among investors over the influence of the informal Council of Eminent Persons (CEP) chaired by Tun Daim Zainuddin.
Singapore daily The Straits Times (ST) reported today a divergence of opinions between the political leaders and the CEP concerning major public projects and the leadership of government-linked companies like Khazanah Nasional, leading to a potential conflict in decisions due to overlaps.
“The CEP reduces the Cabinet’s role to some extent, raising the risk of policy confusion and concerns about parallel administrations. Investors want to avoid having two finance ministers and have clarity over who is calling the shots,” Eurasia Group’s Asia director Peter Mumford was quoted saying.
As example, ST said Daim had wanted fresh tenders for the mega rail projects involving the third line for the Light Trail Transit (LRT3) and Mass Rapid Transit (MRT) instead of renegotiations of existing contracts.
Finance Minister Lim Guan Eng had however recently announced a cheaper pricing of RM16 billion for the LRT3 project with 47 per cent in cost savings, while ST said the MRT2 line’s RM32 billion pricing could also be slashed by at least RM8.5 billion.
“The fact that Cabinet approved Lim’s proposal shows that Daim and Mahathir are not totally of the same mind.
“But whether many dare to challenge Daim’s authority remains to be seen,” an unnamed PH leader was quoted saying.
The anonymous PH insider also pointed out that both the Prime Minister’s Office and CEP have separate teams scrutinising the 1Malaysia Development Berhad issue.
