The group of former senior civil servants said this would ensure that the upcoming general election at the federal and state levels is clean.
G25 said there must be limits to the amount of money individual candidates can receive as donations, and that there must also be an independent agency to enforce the law on political funding.
“Instead of creating a new commission, we believe that the Election Commission should be empowered to not only conduct elections but also to regulate donations to election candidates and political parties,” it said in a statement.
G25 also pointed out that foreign money must be banned, government-linked companies (GLCs) must not be allowed to give political donations and the accounts of political parties must be audited and made transparent.
In May, Prime Minister Ismail Sabri Yaakob said the special Cabinet committee on anti-corruption had agreed in principle to a political funding bill.
He said the bill was important for the regulation of political financing and to avoid the risk of corruption and abuse of power by politicians, which would negatively affect the country’s image.
G25 said that Malaysians were not naive, and the public knew that under the guise of political donations, many top politicians used the money to enrich their family members and themselves.
Meanwhile, the group said it did not accept PAS’ attempt to whitewash political donations as permissible in Islam if it was done between “willing givers and takers”.
“We must not tolerate such a lame excuse because educated Malaysians are getting increasingly worried that political donations are becoming the root of all evil in our country.
“It is best for PAS not to abuse Islam for its political gain,” it said.
G25 also reminded Ismail that he had signed an MoU with the opposition last year, adding that reform on political funding was among the promises to make Malaysia a better country with high standards of integrity, political morality and governance.
“By delivering on the promises under the MoU, the PM can raise public confidence in the future of the country as a respectable democracy with peace, happiness and prosperity among the people,” it said.