Who is actually the Finance Minister?

MM Online - No honeymoon period: Daim says Council of Elders getting down to business right away (extracts):

KUALA LUMPUR, May 13 ― The newly set up Team of Eminent Persons meant business and wasted no time as they convened their first meeting soon after the announcement of its formation by Prime Minister Tun Dr Mahathir Mohamed.

No honeymoon period and prolonged post-election euphoria as the government is determined to restore the confidence of the people and investors after Pakatan Harapan’s unprecedented win in the 14th general election on May 9.

Chaired by former Finance Minister Tun Daim Zainuddin, the meeting, which went late into the night, was also attended by three other members of the team, namely former Bank Negara Malaysia Governor Tan Sri Zeti Akhtar Aziz, former Petronas President and Chief Executive Officer Tan Sri Mohd Hassan Marican and economist Prof Jomo Kwame Sundaram.

Billionaire tycoon Tan Sri Robert Kuok was not present as he is currently overseas.

Meanwhile over at FMT, we read Daim assures no increase in govt debt after GST removal (extracts):

KUALA LUMPUR: Former finance minister Daim Zainuddin, who is now part of the five-member Team of Eminent Persons under the new Pakatan Harapan (PH) government, has assured investors and fund managers that all problems affecting the economy will be addressed and that there will not be an increase in debts.

“There is no reason to put the economy into a state that is much worse,” he told Bernama after chairing a meeting late last night with other members of the team.

He was responding a question on jitters by investors over the impact on the ringgit and stock market following the surprise win by PH in the recent polls, which saw the fall of the six-decade rule by Barisan Nasional.

The concept of a Council of Elders arose during the days when then-PM Najib did NOT report to Mahathir. The old man was annoyed and worried that the new PM was going off at a tangent to his (Mahathir's) earlier designed and decided policies. That was his beef with AAB, and he didn't want Najib to be like another AAB.

Mahathir then said, words to the effect, that government policies before being announced should be sent to him for approval. That was the magnitude of his imperious attitude when he believed he was still the political ruler of Malaysia.

And that was when he mooted the idea of a Council of Elders, presumably with himself then as one of the Elders if not the Council's chairman, who could "control" then-PM Najib and subsequent PMs.

Leaving aside the facts that such a Council was to achieve Mahathir's objective of "CONTROL"-ing a de jure PM, the idea by itself is not bad provided the Council of Elders provides ONLY advice. The Mainland Chinese had practised this in earlier years.

But it seems that the current Council of Elders under the chairmanship of Daim is doing more than just providing advice. It looks like it is taking over the economic-financial issues and issuing assurances when that's not its role, supposedly giving ONLY advice to the cabinet.

I am now beginning to wonder who is the real Finance Minister?

will I have a say? 

As I have written above, a Council of Elders is a good idea with the proviso its job is to ONLY provide advise and NOT make policy decisions or policy announcements, for the reason it is NOT elected and hence not the people's representatives.

This is the MOST important point to bear in mind, that ONLY elected representatives may only decide on government policies. And that has been why only a Wakil Rakyat (MP) and NOT a senator may become a PM. The aim is obviously to ensure only a Wakil Rakyat is ultimately in charge on behalf of the rakyat.

Today the Council of Elders, apart from Daim and his seeming hijacking of the Finance Minister's job, is made up completely of finance and economic experts. Where are the security, defence and social etc experts?

I can think of the following to be included in the Council:

(a) Security - Tun Mohammed Hanif bin Omar

Tun Mohammed Hanif Omar was one of the more dignified and accomplished IGP we had.

Hanif Omar joined the Malaysian Police Force as an Officer in 1959 until his retirement in January 1994.

He received his BA from the then University of Malaya, Singapore. Mr. Hanif Omar completed his LLB (Hons) at Buckingham University, United Kingdom and completed his CLP (Hons) from University of Malaya.

He served as director in a number of companies since his retirement. He is 79 today.


(b) Defence - Tan Sri Dato Sulaiman Bin Sujak

Tan Sri Dato' Sulaiman began his career by serving both the Royal Air Force and the Royal Malaysian Air Force and was the first Malaysian Air Force Chief.

He had also held the position as the Deputy Chairman of Malaysian Airline System Berhad, Advisor (now known as Assistant Governor) of Bank Negara Malaysia and Commercial Director of Kumpulan Guthrie Berhad. Tan Sri Dato' Sulaiman had also served as Director of HSBC Bank Malaysia Berhad and Cycle & Carriage Bintang Berhad.

He is 84 today, and one of the most distinguished and well-regarded Chief of the Air Force, if not the most.

(c) Social

We need an Elder who is well regarded in the fields of inter-community and cultural relationships, preferably someone well regarded locally and internationally, and who can advise on a united identity and equality for Malaysians