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PAC Begins Investigation On 1MDB

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KUALA LUMPUR: The Parliamentary Public Accounts Committee (PAC) on Tuesday started an investigation into the government strategic investment company 1Malaysia Development Berhad (1MDB) which is facing allegations over its financial position.

The PAC, which convened at Parliament House at 11am, heard explanations from Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah, who is also a member of the 1MDB advisory board, and Economic Planning Unit (EPU) director-general Datuk Seri Dr Rahamat Bivi Yusoff.

The PAC, which is chaired by Datuk Nur Jazlan Mohamed (pic), comprises eight Barisan Nasional MPs and five opposition MPs.

A news conference is expected to be held after the PAC completes hearing the explanations today.

The PAC decided at a special meeting on April 30 that it would launch an investigation into the 1MDB.

Prime Minister Datuk Seri Najib Tun Razak had earlier instructed the Auditor-General, Tan Sri Ambrin Buang, to look into the 1MDB books.

Ambrin had said that an audit report on 1MDB would be released at the end of June. – Bernama

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