KUALA LUMPUR: In dealing with the weakness of the ringgit to the US dollar, Malaysian Deputy Finance Minister Ahmad Maslan on Tuesday said that the government maintains its position to not peg the ringgit due to the adverse effects it will have on the public.
“The people already feel 'uncomfortable' with the OPR at 3 per cent, what more if it is increased to 5.25 per cent,” said Mr Ahmad during an oral question and answer session at the Upper House of parliament. “Another disadvantage, capital flow control will not be free because the entry and exit of foreign investment into our country will be controlled. When we peg the value of the ringgit, it affects the country's confidence and competitiveness,” he added.
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