Umno: Pakatan responsible for dip in foreign reserves – Nation

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PETALING JAYA: Pakatan Harapan only have themselves to blame over the dip in Bank Negara Malaysia’s foreign reserves, says Umno.

The party strategic communications unit was referring to a statement by Bank Negara on Thursday (June 21), which said that the central bank’s international reserves totalled US$107.9bil (RM 432.05bil) as of June 14, compared with US$108.5bil (RM434.46bil) on May 31 this year.

According to Umno, Pakatan’s alleged lies about Datuk Seri Najib Tun Razak, the 1Malaysia Development Berhad (1MDB) scandal and the country’s economy have deterred foreign investors from injecting funds in Malaysia.

“Pakatan only have themselves to blame. Their lies and propaganda to undermine and belittle the country in the eyes of the world are beginning to bear their desired results.

“With the allegations about a bankrupt economy and factual lies for four years, Pakatan now faces a hurdle to fulfil their promises and instil investors’ confidence,” Umno said in a statement on Friday (June 22).

As an example, Umno claimed that Prime Minister Tun Dr Mahathir Mohamad was forced to revive the “Look East” policy and “beg” for soft loans from Japan.

It also said that Dr Mahathir’s policies are now being questionedm such as his new national car plans.

“Lim Guan Eng’s role as the Finance Minister seemed to be centred on digging up past mistakes, without any effort to develop the nation’s economy,” it added.

“If Lim’s responsibilities are only to dig up mistakes by the previous administration, then anyone can be a Finance Minister.

“Lim should hold immediate meetings with foreign investors to restore their confidence in investing in the local share market,” said Umno.

Umno added that foreign investors could divert their interests and invest in other countries.

“What is Pakatan’s initiative to pull back foreign investors?

“It’s easy to blame others, but it is harder to admit your own mistakes,” Umno added.



Read more : thestar

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