The Public Accounts Committee (PAC) report on 1MDB proves Dr Mahathir Mohamad made a false allegation that RM42 billion was missing from 1MDB, said Prime Minister Najib Abdul Razak.

“He was motivated by personal interest, not national interest, and a desire to unseat the government,” he added in a media statement this afternoon.

On the same note, Najib acknowledged that the report identified weaknesses in 1MDB's capital structure and management.

“We must ensure that lessons are learned, and action would be taken if any evidence of wrongdoing is found,” he said.

Najib said that following multiple grave allegations made against 1MDB, such as Mahathir’s RM42 billion charge, the cabinet - under his instruction - had asked the auditor-general in March last year to conduct an independent investigation into 1MDB's financial accounts.

“To ensure this was a transparent process, we also instructed that the findings be passed for review to the PAC – a bi-partisan body that includes opposition parliamentarians.

“After an exhaustive process, the PAC today released a report with its findings to parliament. This report represents a consensus by PAC members, and its findings are based on facts and hundreds of hours of reviews and investigations.

“I would like to thank the National Audit Department and PAC for producing a comprehensive, conclusive, and definitive report,” he added.

The prime minister also said his administration would continue to focus on its economic plan to strengthen the economy, which has continued to show resilience in the face of global challenges.

Najib has repeatedly denied abusing public funds for personal gain and blamed such allegations on those conspiring to topple him from power.

Meanwhile, 1MDB has also accused its detractors of recycling allegations with a political motive.

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