KUALA LUMPUR, Aug 4 (Bernama) – The Dewan Negara concluded its Second Meeting of the Fifth Session of the 15th Parliament today with the passage of two new Bills.
The 10-day sitting also focused on measures to strengthen national governance, fiscal sustainability, economic competitiveness, energy security and efforts to attract high-quality investments.
The sitting, which began on July 20, passed the National Trust Fund (KWAN) Bill 2026 and the Statistics Bill 2026. The former aims to strengthen governance and impose clearer discipline on withdrawals from the National Trust Fund, while the latter establishes a more modern and comprehensive legal framework for national statistics.
The KWAN Bill was tabled by Deputy Finance Minister Liew Chin Tong, while the Statistics Bill was tabled by Deputy Economy Minister Datuk Mohd Shahar Abdullah.
On the opening day of the sitting, the government assured the House that it would take appropriate measures to safeguard public welfare and ensure sustainable economic growth following geopolitical tensions in West Asia. These measures include securing essential supplies, containing price increases, supporting industries and strengthening the country's economic resilience.
Also drawing attention was Prime Minister Datuk Seri Anwar Ibrahim's explanation that the performance of the Retirement Fund (Incorporated) (KWAP) should be assessed fairly after the pension fund recorded a net profit of RM12.9 billion, while acknowledging that its investment in eFishery had provided valuable lessons for future investment decisions.
The sitting was also informed that Pos Malaysia would continue implementing its transformation plan to reduce losses through network rationalisation, expansion of digital channels and prudent management, while the government is studying the establishment of a Postal Service Fund as a long-term financing mechanism.
On July 23, the Dewan Negara was briefed on the government's measures to strengthen national energy security, including an assessment of the need to establish a strategic petroleum reserve, taking into account fiscal implications, operational requirements, governance structures, and international best practices.
The Economy Ministry also said that the recently concluded 20-year fuel supply agreement with Russia, covering petrol, diesel, crude oil and gas, complements and is consistent with the objectives of the National Energy Transition Roadmap (NETR).
During the same sitting, the government announced that approved Japanese investments in Malaysia's electrical and electronics (E&E) sector totalled RM10.5 billion across 46 projects between 2021 and 2025, and are expected to create 9,009 jobs, further strengthening the country's high-technology industrial development.
On July 27, Mohd Shahar said Malaysia remains on track to become one of the world's 12 most competitive economies by the end of the 13th Malaysia Plan (13MP), supported by the country's improved ranking in the 2026 World Competitiveness Ranking (WCR).
On the same day, the government said Bank Negara Malaysia would implement a new Performance Measurement Framework (PMF) for Development Financial Institutions (DFIs) from July 1, 2027, to ensure a more comprehensive assessment of their development mandate, impact, governance and operational efficiency.
Meanwhile, the Ministry of Investment, Trade and Industry (MITI) said the country's electric vehicle (EV) ecosystem would continue to be driven by private sector participation without a price control mechanism for public EV charging services. A total of 6,416 public EV chargers had been installed nationwide as of May 31.
Fiscal reform also remained a key focus, with the Finance Ministry reporting that the federal fiscal deficit had narrowed for the fifth consecutive year following the implementation of economic and fiscal reforms, while federal debt remained within the statutory limit.
Liew also said expenditure controls implemented during the first half of the year resulted in nearly RM5 billion in spending restrictions without affecting the delivery of critical public services, thereby improving the efficiency of public financial management.
The President of the Dewan Negara adjourned the Second Meeting of the Fifth Session of the 15th Parliament to a date to be announced later.
-- BERNAMA