KUALA LUMPUR, May 10 (Bernama) -- The government's decision to amend the Majlis Amanah Rakyat (MARA) Act 1966 should not be viewed negatively, as the move is intended to strengthen the institution, said Deputy Prime Minister Datuk Seri Dr. Ahmad Zahid Hamidi.
Ahmad Zahid, who is also Minister of Rural and Regional Development, said the amendment to the Act has been agreed upon by MARA council members to ensure the institution remains aligned with its founding objectives while also strengthening its governance.
He emphasised that MARA, established through the 1965 Bumiputera Economic Congress, requires a solid legal foundation to guarantee the continuity of its functions.
"This Act is being amended so that we return to the original foundation, and so that MARA's governance does not go off course when the director-general changes, when the chairman changes, when the supervising minister changes or even, most regrettably, when the government changes.
"The Act will remain in force not merely as a guideline, but as something that must and shall be followed.
“That is the purpose of this amendment," he told a press conference after the closing of Musyawarah Nasional (National Discourse) today.
Ahmad Zahid said that MARA's origins, dating back to its establishment as the Rural and Industrial Development Authority (RIDA), must remain firmly on course, unaffected by changes in leadership.
"There should be no negative or differing interpretations. This is the true intent, as decided by MARA itself through a resolution passed by its council members," he said.
He also confirmed that he would present the draft amendment to the Cabinet within two weeks.
"In fact, I have already chaired two meetings with council members, senior officers and a panel of lawyers to go through the details," he added.
On May 3, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim, speaking at MARA's 60th anniversary celebration, directed that the draft amendment be completed and submitted to him within three months.
-- BERNAMA
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