Right time for Najib to resign as finance minister, says PAS

PAS information chief Datuk Mahfuz Omar says Malaysia needs a full-time finance minister to prepare the nation to face an ‘economic emergency’. – The Malaysian Insider pic by Seth Akmal, December 3, 2014.PAS has once again suggested Prime Minister Datuk Seri Najib Razak resign as the finance minister and hand over the portfolio to Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, with Malaysia facing the prospects of a gloomy economic outlook next year.

PAS information chief Datuk Mahfuz Omar said today Malaysia needed a finance minister who could give full attention to the nation as it faces an “economic emergency”.

In early November, a similar demand was made by PAS Kuala Terengganu MP Datuk Raja Kamarul Bahrin Shah Raja Ahmad, who said the finance portfolio needed someone experienced who could handle the position full time.

Najib currently holds both the prime minister and finance minister portfolios.

Mahfuz said urgent intervention to boost the economy was needed following reports of the ringgit's weakening position and the fall of crude oil prices below US$70 per barrel.

"The inflationary effects from these two examples could lead to an 'economic emergency'.

"We need a finance minister who can focus and solve all these issues. Right now, even though we have two finance ministers, we seem be at a loss and directionless.

"This is the best time for the prime minister to resign as finance minister so that we have only one person to focus on this growing problem.

"Give full trust to Husni, as he has extensive background and experience in econoics. (Right now) since he is the second finance minister, everything needs to be referred back to Najib," he said, adding that bureaucracy hampered things.

He urged the government to come up with a plan to survive the coming onslaught which was made worse with Petronas reducing its contribution by RM25 billion.

"Even though Putrajaya says they can cope with the introduction of the goods and services tax (GST), but the question is how are they going to manage it,"

He said altough the government was confident of getting RM23 billion from GST alone, the target was not achievable if the country was hit by inflation.

"Due to inflation, people will spend very carefully, and this will make the GST target of RM23 billion unachievable,"

"Putrajaya needs to take a serious look at this because people will want to know what is their solution." he said.

It was reported yesterday that the Malaysian Institute of Economic Research said the country’s economy was expected to grow at 5-5.5% next year, lower than the predicted 5.9%, due to a weaker global demand for Malaysian-made products.

- TMI