(May 21): The buck for 1Malaysia Development Bhd's (1MDB) woes eventually stops with Prime Minister Datuk Seri Najib Razak, the PKR said today, amid calls by Tan Sri Muhyiddin Yassin to sack the company's board.

PKR secretary-general Rafizi Ramli said sacking the management does not resolve the problems faced by the strategic investment firm which is saddled with a RM42 billion debt.

"As Najib would have been involved in all the major decisions in 1MDB, sacking the board does not solve anything," Rafzi told The Malaysian Insider today.

Najib is chairman of 1MDB's advisory board.

"The buck stops with the PM," Rafizi said, referring to remarks by the deputy prime minister made in a closed-door meeting with Umno leaders, which was leaked in a YouTube video clip.

In the clip, Muhyiddin said the 1MDB board should be sacked and the police must also be called in to investigate the matter in order to prove the government's seriousness in tackling issues plaguing the company, among them, racking up a RM42 billion debt in five years.

Rafizi said it would be "impossible" to bring in the police on the matter, because Najib's involvement in key decisions might just destabilise Umno further.

"My opinion is that it is best to close down 1MDB altogether."

Rafizi said that Muhyiddin's speech confirmed the opposition's suspicions all along that there is no logical explanation to the state-owned investment arm racking up so much debt within a short period of time.

"There has been no logical explanation on what 1MDB did to warrant this amount of loans," he said.

He also said that there is a prevailing feeling within Umno that 1MDB will drag not only Najib, but also the party down with it.

"However, it is very convenient for the Umno leadership to just point fingers at Najib. You can't run away from the principle of collective leadership," he said.

"Any decisions involving big funding would have been brought to the cabinet and the cabinet would have concurred with it," he added.

Hence, why some of the Umno members who were at Muhyiddin's talk could be heard screaming "sack the president" when Muhyiddin spoke about the 1MDB issue, Rafizi said. – The Malaysian Insider