Penang Chief Minister Lim Guan Eng (second left) said the state administration would find ways to cushion the impact of the ringgit's fall. – The Malaysian Insider pic, August 14, 2015.
It is common knowledge that the ringgit's fall is due to the 1Malaysia Development Berhad scandal, Penang Chief Minister Lim Guan Eng said.
He said only some people did not want to admit to that fact, and behaved as if it was not a crisis.
"Long ago we have warned the (federal administration) not to play with the economy. But they did not listen.
Prime Minister Datuk Seri Najib Razak yesterday said political play and speculation were among the reasons for the ringgit's plunge.
The ringgit fell to 4.15 against the US dollar today,
Najib late last month dropped Muhyiddin from the Cabinet after the former deputy prime minister openly criticised the former's handling of the 1MDB scandal.
Najib's recent claim that the RM2.6 billion deposited into his personal accounts before the 2013 general election was a donation from the Middle East was also rubbished by former prime minister Tun Dr Mahathir Mohamad, who called it 'bullshit'.
"Listen to the truth," Lim said, disagreeing with Najib's reasoning.
"Donations and 1MDB culture are wrong," he said.
Lim pledged that the state will continue to aid the people to the best of its ability and was confident that even in such discouraging times, Penang could still do better than other states as long as everyone worked hard.
In his speech, he said the state administration would find ways to cushion the impact of the goods and services tax, slow economy and the ringgit's fall.
"We will think of ways to plan the state economy. At least we still have our tourism sector that can spur the local economy and generate income for the people.
"We will have to find sustainable economic sources. We have to draw big businesses to invest in Penang. We just need to hang on and be patient," he said.
- TMI
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