PUTRAJAYA, Jan 17 — Prime Minister Datuk Seri Anwar Ibrahim has said the declaration of assets by politicians had devolved into a farce.

In response, he said that he intends to fine tune the methodology used for asset declaration with the Malaysian Anti-Corruption Commission (MACC).

"The declaration of assets was a farce in the past because people can have hundreds of millions, but they only declare that they have RM10 to RM11 million,” Anwar told reporters when met at Putrajaya today.

"We must make the parameters clear. I am in discussions with government agencies, such as the MACC, to make this more transparent. Otherwise, people will make a mockery out of it.”

Asset declarations are made to shed light on an individual’s earnings and to show the source of their money.

However, in recent times, it has largely been seen as a gimmick employed by political parties to satisfy the public, civil societies, and the authorities, without truly reflecting a politician’s true wealth.

"That’s why I’m appalled by the fact that people are not so critical and just accept it at face value. When you look at the figures in the files, most don’t tell the truth.

"So let’s go through the process. The priority is to make sure whatever decision made is more responsible and transparent rather than a gimmick,” he added.