This article first appeared in The Edge Financial Daily on October 16, 2019

KUALA LUMPUR: Former premier Datuk Seri Najib Razak has called on the government to move the Public Accounts Committee (PAC) to investigate Finance Minister Lim Guan Eng's claim that the current government inherited some RM150 billion in 1Malaysia Development Bhd (1MDB)-related public debt from the previous government.

"What is in this RM150 billion figure? Why has 1MDB, with debts of RM32 billion and with valuable assets, suddenly [been linked to debts of] RM150 billion?" he asked in Dewan Rakyat yesterday.

Najib said if it is true the Barisan Nasional government, under his leadership, had stolen RM150 billion, then the current government should instruct the PAC to immediately look into Guan Eng's claims.

"If it is found not to be true, Bagan [member of Parliament Guan Eng] needs to take action," Najib said. This is the first time Najib had addressed Parliament since the current session started last week.

Guan Eng, in June, was reported to have said Malaysia had lost RM150 billion on account of legacy issues from the previous government.

Of this, he said RM52 billion involves 1MDB, and another RM50 billion lost due to 1MDB-related scandals. A further RM50 billion involves Lembaga Tabung Haji and the Federal Land Development Authority.