PRIME Minister Anwar Ibrahim had no choice but to keep the finance portfolio for himself to prevent infighting in the unity government, political observers said. 

International Islamic University of Malaysia’s Tunku Mohar Mohd Mokhtar said Anwar should not have taken the post of finance minister as he has much work to do as the new leader of the country.

“Anwar had to put his foot down to prevent the person lobbying for the post from getting it.  Although he was earlier hesitant to take the post, his taking the post would stop the infighting,” he said.

Tunku Mohar said PKR deputy president Rafizi Ramli would have been ideal for the job as he had knowledge of business and finance.

Rafizi was named the economic affairs minister in the new cabinet.

Dr Mazlan Ali of Universiti Teknologi Malaysia said Anwar has what it takes to improve the economy.

“He was previously a finance minister with a good reputation and as prime minister, he has the right to appoint anyone, including himself.”

However, there were other good candidates, such as Rafizi, who could have taken the job, Mazlan said.

Asian studies professor at the University of Tasmania, James Chin said Anwar shouldn’t have taken on the role of finance minister as this could lead to bad governance 

“How can Anwar be pursuing big policies as the prime minister while at the same time be having the authority to approve government spending. It’s what Najib did,” he said, referring to former prime minister Najib Razak, who is in jail for corruption in connection with the 1Malaysia Development Bhd affair.

Too much power

While unveiling his cabinet yesterday, Anwar said he did not want to hold the finance portfolio but had to work to restore confidence in the economy.

“At this initial stage, let me (be the finance minister)” he said, adding that he would be assisted by a formidable team comprising the Treasury secretary-general, civil servants as well as advisers who would not be a financial burden on the government.

He said the team, led by Petronas adviser Mohd Hassan Marican, would not be paid.

On November 25, Anwar said he was not considering holding the finance portfolio but would nevertheless would look into all possibilities before making a final decision. – December 3, 2022.