ECONOMIST Muhammad Abdul Khalid made some pertinent points at a recent Malaysian Institute of Economic Research meeting.

He stressed that we can have the best economic models but if we have corrupt leaders in charge, then the country will fail, adding that the nation is failing. Therefore, we need leaders who are both competent and have character.

He raised the 1Malaysia Development Bhd (1MDB) issue and said that Najib Razak would probably be released from prison in 2034 unless he secures an earlier pardon. The fact is that it will take the nation until 2037 to settle all its 1MDB-related debts.

To illustrate the scale of the looting, he indicated that this year alone, the repayment would be RM15 billion and for next year, it would be RM23 billion. With the falling value of the ringgit, these figures could well increase further.

Unbridled greed and power are intoxicating and the events facing Najib and his wife, Rosmah Mansor, today describe the extent to which corruption grips individuals.

Muhammad further stressed that Lembaga Tabung Haji lost nearly RM50 billion and this was covered by funds from the federal government – a contribution from all Malaysians. No zakat funds were used to cover these debts.

We all pay for the corruption of our leaders. Add to this the skulduggery in Felcra, Felda, other government agencies and government-linked companies and the scale of the leakage is enormous. There will be not stability without social cohesion.

We have a finance minister who wrote music and sang praises for “Bossku” in support of Barisan Nasional at the last general election. This was the CEO of a major bank that set up a committee to investigate the money laundering case against the chairman of the bank.

Amazing the levels to which governance can be rationalised and these are the people we are today called upon to trust. Competent, perhaps, but what about their character? Good followers but definitely not leaders as they do not have the spine to make a difference.

The state of the nation over the next five years or so will depend on the choices we make at this general election.

Each one of us can by our vote signal the need for change. We have done this before and can do this again, and despite shortcomings, we have learnt and have only hope on our side.

There is much from the last Pakatan Harapan manifesto that needs to be done. We have to make the Malaysian Anti-Corruption Commission an independent body answerable to parliament with independent powers of prosecution.

There is also the need to curb the powers of the attorney-general and again, insist that prosecution remains independent of political interference.

There are so many cases that have graced the pages of our media about which we hear nothing today.

God in his wisdom has given this nation petroleum and the way Petronas has been abused has yet to be fully understood. As an off-budget agency, Petronas has not been accountable to the people.

Billions have been squandered and it is the guilt of this that ensures that we have racist leadership that justifies such actions in the name of race.

Had we got leaders with vision and stewardship of the nation’s resources, we could today be far ahead of Singapore.

Instead, with racism and selfish leaders, secrecy and a divide-and-rule policy, we have lost so much, most of all in calling upon our diverse human resources.

Our racism has driven out so many Malaysians who would have loved to work here.

With mediocrity in leadership, it is all about one race, but when it comes to accountability, it is another race that is being blamed.

Fear and insecurity, instead of confidence and capability, and this can only be exhibited by people with meritocracy.

The leadership deficit that we are facing is one of character. – November 8, 2022.

* K. Haridas reads The Malaysian Insight.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.