PUTRAJAYA: The government will establish a council to examine and determine decision-making on national economic matters soon, according to Prime Minister Tun Dr Mahathir Mohamad.
He said the formation of the council, which has yet to be named, would function similarly to the National Economic Action Council that was formed in 1998.
“Hence, we will ascertain the (economic) problems that will be brought to the council, and (then) determine the decisions and actions to be made. The actions to be taken will be more effective compared to now.
“Currently, it’s rather disorganised as we do not have a body that decides on investment and others. (There are) some that go to the (various) ministries but may be the actions are not clear to the people,“ he said.
Dr Mahathir, who is also the Pakatan Harapan (PH) chairman, said this in a press conference after chairing the PH presidential council meeting, here today.
Asked to comment on the government’s decision in relation to the East Coast Rail Link (ECRL) involving contracts with China Communication Construction Company Ltd (CCCC), Dr Mahathir said negotiations are still ongoing.
“The project is now being negotiated. I cannot say what is happening because I have to wait for the result ... as soon as possible,“ he said.
Dr Mahathir was also asked about the allegation made by former Prime Minister Datuk Seri Najib Abdul Razak on the weakening ringgit as compared to the Thai baht.
“Recently, the ringgit has gone up ... it’s not that the ringgit has fallen but what becomes a problem is the US dollar has appreciated because of the actions made by President Donald Trump.
“When the dollar goes up, the ringgit will fall. It doesn’t simply fall but in terms of percentage. Now it’s at RM4.10, it was RM4.29 before (against US$1),” he said.
Dr Mahathir added that the value of the ringgit should not be used as an indicator of the country’s economy, as there were other factors to consider. — Bernama
