MCA has hurled brickbats at Putrajaya over its attempt to convince Malaysians that the weakening ringgit actually benefits the country, warning that the government not addressing the issue would eventually lead to the rakyat suffering.
MCA Central Committee Member Cally Ting Zhao Song said the government has also not provided a clear explanation nor provided specific facts and figures, nor had it listed the industrial or commercial industries that are the “real beneficiaries” of the ringgit’s decline.
“If the Cabinet still does not address the economic impact of the sinking Ringgit, the rakyat will eventually suffer, in particular, households at the bottom of the economic ladder will be hardest hit,” she said in a statement today (Oct 24).
Ting was referring to the recent depreciation of the ringgit against the US dollar which saw the ringgit plunging to a new all-time low of 4.79 per US dollar last night.
“On the Ringgit’s depreciation, can the public expect some level of accountability from Cabinet members? Should the Ringgit’s freefall be allowed to persist? If yes, which Cabinet Minister will be held responsible and accountable?” Ting asked.
“Our citizens are anxious and are looking towards the current Cabinet for answers. We have a right to inquire from the current Cabinet as to what measures will be undertaken by the government to halt the ringgit from dropping further and instead, to strengthen our currency.”
Ting went on to say that the present dilemma is that not only does the Cabinet appear “indifferent” towards the continued freefall of the ringgit, it had also adopted a wait-and-see stance that renders the ringgit exchange rate to keep plunging at a record rate.
“This causes the prices of goods to literally fly off the shelves which translates to consumers having to shoulder the much higher costs,” she asserted.
“The recent Public Finance and Fiscal Responsibility Act was enacted to exert a higher accountability system within the fiscal framework. Therefore, can we expect accountability from the Cabinet on the issue of the ringgit’s shrinkage?”
Ting stressed that voters expect the Cabinet to be accountable and will “reject any form of apathy, indifference, or ‘tidak apa’ attitude commonly associated with the bygone era”.
“The rakyat may not generally mind a Cabinet reshuffle, so long as quality candidates who can perform and deliver their Ministerial duties for the rakyat’s betterment are appointed,” she added. – Oct 24, 2023
Main pic credit: Today Online
