Datuk Seri Najib Tun Razak is optimistic that the formation of the National Consultative Committee on Political Funding (JKNMPP) will help in the creation of a more transparent political funding system.

The prime minister said although the plan was rejected by the opposition pact when it was proposed in 2009, he still hoped that all quarters would give their support to the JKNMPP as its establishment was not politically-motivated.

"This is not a new thing because I had proposed it openly when implementing the national transformation plan as part of which was related to political funding which needs a transparent regulation with integrity.

"Hence, I hope all quarters will support the committee because this is not a political matter, but it is a matter of integrity and understanding among all quarters," he said at a media conference here today.

Najib had earlier announced the formation of the JKNMPP to draw up a political funding action plan of integrity that is comprehensive and inclusive.

Najib also refuted the perception that the formation of JKNMPP was made following pressures and criticisms that he received of late, especially regarding political fund.

In fact, he stressed that it was high time that matters concerning political funding had its own regulations and guidelines which would be deemed as the best practice accepted by all quarters.

When asked about his expectation of the opposition's reaction on the formation of JKNMPP, the prime minister said he only hoped that all quarters would be able to accept it with an open heart and could give their support and feedback for mutual benefit.

"We hope that they will accept it because this is a plan to have a political funding system and regulation that is more transparent and with integrity.

"If this is what they have been bandied about...they should walk the talk and participate in formulating a best practice regulation," he said.

To a question whether the opposition had given any excuse for rejecting the proposal in 2009, Najib said: "You have to ask the opposition."

The prime minister said that one thing for sure right now was that there was no point of reference of what is right and what is wrong about political funding except the regulations concerning party expenses during elections set by the Election Commission.

"As such, there is an urgent need to regulate political funding to ensure accountability and transparency in order to nurture a healthy political practice as part of the Government Transformation Programme agenda to provide check and balance between the governance mechanism," he added.