Malay rights pressure group Perkasa wants a Royal Commission of Inquiry to probe 1Malaysia Development Bhd, and for the panel to be headed by independent parties.

First in the list of individuals it proposed to head the RCI is former Chief Justice Abdul Hamid Mohamad, who now leads the National Unity Front (NUF) consisting of Malay NGOs, including Perkasa.

The proposal was made by Perkasa’s monitoring and integrity bureau in a letter to Prime Minister Najib Abdul Razak sent this morning.

"An RCI made up of neutral members must be formed immediately because it is the best way to resolve the issues weighing down Najib and resolve the mysteries around 1MDB as raised by (former prime minister) Dr Mahathir Mohamad.

"We also propose that transparent and credible members are appointed on the RCI, which should be headed by a former Chief Justice, like Abdul Hamid ( left ) or Ahmad Fairuz Sheikh Abdul Halim or former Attorney-General Abdul Talib Othman, or any individual with high integrity," bureau secretary Azrul Akmal Saharudin said today.

The proposal for an RCI was first made by Perkasa after a discussion on the issue earlier this month because an RCI will have a wider mandate and investigation powers, Azrul Akmal said in a statement.

The sooner the RCI is formed the better, he said, because the people are clamouring for answers on 1MDB’s RM42 billion debt and what happened to its investments.

"The rakyat are justified in their anger, given the goods and services tax. Even if the GST is a better and more transparent tax system, the people now see it as a way to pay 1MDB’s debts," Azrul Akmal said.

The GST was introduced on April 1 at six percent, despite public outcry.

1MDB, a wholly-owned Finance Ministry investment firm, was recently extended a RM950 million credit by the government to ease its cash flow issues after it had difficulties servicing its loans.

Najib, who is finance minister and 1MDB board of advisers chairperson, instructed a public audit to allay concerns, despite reiterating that 1MDB’s has more assets than liabilities.

The Auditor-General’s Department is now conducting the audit, although the terms of reference have never been made public.

The parliamentary Public Accounts Committee said it will commence its own probe if the Auditor-General’s Department’s investigation takes too long.

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