Mat Sabu hopes for further strengthening of ringgit, lower food import cost

 

Amanah president Mohamad Sabu has expressed hope that the ringgit will continue strengthening, thus reducing the cost of food imports.

“The change of government and the appointment of Prime Minister (Anwar Ibrahim) saw a sharp increase in our currency and we hope it will maintain and continue to improve in the future.

“The cost of food imports will be cheaper if our currency continues to strengthen, that is our hope and the increase is indeed incredible within 10 days after the election,” the newly minted agriculture and food security minister told reporters in Kulim, Kedah, last night.

Mohamad said despite being expected to weaken to RM5 against the US dollar this month, the ringgit strengthened to RM4.40.

On the announcement of the new cabinet line-up, Mohamad said the prime minister had kept his promise to form a smaller cabinet involving only 28 ministers in his administration.

Asked if Amanah was satisfied with the number of party representatives in the cabinet, he said yesterday’s announcement only involved ministers and it would be followed by deputy ministers.

Earlier, Mohamad attended a GE15 ceramah in Padang Serai along with Kedah Harapan chairperson Mahfuz Omar and Kedah BN chairperson Jamil Khir Baharom.

Polling for Padang Serai was postponed to Dec 7 following the death of one of its candidates.

- Bernama