PM’s portfolios must have ‘expiry date’

THE prime minister’s decision to hold the Finance Ministry portfolio was among the key highlights in the recent Cabinet announcement.

Datuk Seri Anwar Ibrahim decided to hold the portfolio, with the intention of resuscitating the economy and restoring confidence among the people, business sectors and foreign investors.

In fairness to Anwar, the Cabinet appointment is his prerogative as enshrined in Articles 43(1) and 43(2)(a) and (b) of the Federal Constitution.

Anwar helming the portfolio can also be justified, considering his vast experience as finance minister in 1991-1998, during which Malaysia’s economic growth was among the highest in the East Asian region, when our country was dubbed the “Asian Tiger”.

Furthermore, Anwar was named finance minister of the year in 1996 by Asiamoney, while Euromoney ranked him among the top four best finance ministers in the world.

The other prime minister who had held the finance portfolio for a considerable period was the fifth prime minister, Tun Abdullah Ahmad Badawi (five years), and the sixth prime minister, Datuk Seri Najib Abdul Razak (10 years). A second finance minister was appointed at the time to help Najib with the portfolio.