THE Royal Commission of Inquiry (RCI) set up to investigate foreign exchange losses during former prime minister Dr Mahathir Mohamad’s administration in the 1980s could affect the opposition if he is found guilty, said opposition lawmakers. 

Shah Alam MP Khalid Samad said the nature of the investigation was questionable as the RCI was set up only after 23 years. 

“The fact that it is politically motivated shows it is not an independent investigation. It is being done now because Dr Mahathir is with the opposition. The public will question the independence of this investigation.

“Is the RCI aimed at identifying the crime or to put the opposition in bad light; there will be some impact on the image of the opposition,” he said at a press conference at PKR headquarters in Petaling Jaya today.

Yesterday, the prime minister’s office announced that the RCI would identify the actual losses resulting from the foreign exchange transactions. 

The office, in a statement, said the losses were larger than what was reported to the then cabinet and Parliament.

The cabinet had agreed with a task force recommendation to set up the RCI. The task force found there was a prima facie case, meriting in-depth investigation into the losses suffered by Bank Negara.

The task force was formed in February and headed by former chief secretary to the government Mohd Sidek Hassan. 

Earlier, PKR president Dr Wan Azizah Wan Ismail called for another RCI to investigate the latest US Department of Justice (DoJ) suit filed last Thursday. 

She said the RCI for DoJ’s claims on 1MDB was equally important as the one on forex losses, to show that the government was not being selective or trying to divert attention from the 1MDB scandal. 

“We shouldn’t wait for 23 years to resolve the misappropriation claims of 1MDB,” she added. 

Dr Wan Azizah also wanted the investigation into 1MDB to be reopened, urging the attorney-general, inspected-general of police and the Malaysian Anti Corruption Commission (MACC) as well as Bank Negara to initiate the investigation. 

She added that an emergency meeting with leaders of opposition parties and all whip leaders would be called on June 28 in Parliament to discuss the matter. 

DoJ last week moved to seize another US$540 million (RM2.3 billion) in assets that were allegedly bought with money stolen from the 1MDB fund, bringing the funds allegedly misappropriated to US4.5 billion. – June 22, 2017.