KUALA LUMPUR (March 8): There will be no room for abuse of power, either in the government or in the opposition, said Prime Minister Datuk Seri Anwar Ibrahim, stressing that violators will be severely punished without fear or favour.

“We will uphold the highest ethical standards, and there will be no room for abuse of power. Whether you are a Tun or Tan Sri, [and] whether you are in this government or the opposition, we will act without fear or favour,” Anwar said when delivering his keynote address at Invest Malaysia 2023 titled “Reshaping Malaysia’s Narrative: Strengthening Resilience and Sustaining Growth" here on Wednesday (March 8).

“I have said this many times, and I will repeat it here again. This government adopts a zero-tolerance approach towards misconduct and corruption. The scourge of corruption, ill-gotten gains and bribery have no place in this nation,”  said Anwar at the Invest Malaysia 2023 conference.

He added that good corporate governance must remain as the basis on which businesses, companies and shareholders operate.

“It is also necessary to ensure that good governance provides robust safeguards for investor protection and the stability of the financial and capital markets,” he explained. 

The Fiscal Responsibility Act and the Government Procurement Act are “key pieces” of legislation for the future, said Anwar, while pointing out that lack of transparency and accountability problems have hindered the best efforts to move the country forward.

“The reforms we have made, and the ones we will make in due time, all concern this area of wastage and loss — for instance, transparency in procurement awards and quality execution of any government business are now a rule, not a mere norm.

“While some question this administration’s forthrightness in highlighting issues of this nature, believing that it casts aspersions on our national image, we believe the opposite. 

"To start rebuilding confidence in our future, we must be honest about the problems that we face today," Anwar, who is also the finance minister, told the audience.