KUALA LUMPUR: In his position as finance minister, Prime Minister Datuk Seri Najib Razak said yesterday there would be no special sitting to discuss 1Malaysia Development Bhd (1MDB) as many issues had been raised and answered in the current session.

Najib said in a written reply that he would respond further to the issues raised when wrapping up the debate on the royal address next week. Kelana Jaya MP Wong Chen (PKR) asked yesterday if a special sitting would be convened to discuss IMDB.

Najib said: “Thus, there is no need for a special Parliament sitting to be held, in light of issues concerning 1MDB that have been answered and will be answered later.”

Members of Parliament from both sides of the divide are currently debating the royal address in the Dewan Rakyat, and the wrapping up session for ministers is scheduled to begin next week. Najib said it is the responsibility of a minister to answer any issues falling under the purview of his ministry.

In this session, Finance Minister II Datuk Seri Ahmad Husni Hanadzlah confirmed during the oral question and answer session that the government had approved RM950 million standby credit to 1MDB.

Najib also replied in writing that the government will assume 1MDB’s US$3 billion (RM11.07 billion) liability if it exhausts all other avenues to settle it.

This article first appeared in The Edge Financial Daily, on March 19, 2015.