The decline of the Ringgit and economic instability indicate the need for a dedicated full-time Finance Minister in Malaysia, according to Syahir Sulaiman, a PAS Member of Parliament for Bachok. Currently, Anwar Ibrahim holds the Finance Minister portfolio alongside his role as Prime Minister.
PAS MP giving recommendations
Despite the increase in the overnight policy rate by Bank Negara Malaysia, the Malaysian people await strategies from either the Prime Minister or the Minister of Economy, Rafizi Ramli, to address the situation. Syahir emphasized the importance of enhancing public understanding regarding the challenging circumstances, including the depreciation of the Ringgit, rising import costs, and inflation.
The PAS MP expressed concerns about the lack of a comprehensive and effective strategy to help Malaysia navigate the crisis, particularly due to the Prime Minister’s heavy responsibilities. Additionally, Syahir discussed the external and internal factors contributing to the Ringgit’s weakness against neighboring currencies. He also highlighted the continuous net selling by foreign investors on Bursa Malaysia.
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