KUALA LUMPUR: The Public Accounts Committee has given the Human Resources Development Corporation (HRD Corp) three months to complete a follow-up action based on the recommendations given by the committee in its report.
Its chairman Datuk Mas Ermieyati Samsudin said this was to ensure that HRD Corp had adequate time to get back to the committee as the report was just published two weeks ago.
"We have just released the report and we will wait for three months before calling them to provide a follow-up action based on the recommendations provided by PAC," she said during a press conference in Parliament, today.
Previously, PAC revealed that HRD Corp had used a total of RM3.77 billion in levies collected from employers for training development programmes to make several different investments.
The PAC found that the levy collected by the corporation had shown a significant increase from RM475 million in 2020 to RM2.134 billion in 2023.
The investment panel of HRD Corp failed to report substantial investment activities to its board of directors, leading to a lack of oversight over its investment activities.