Mat Sabu hopes strengthening of ringgit will lower food import costs

Mat Sabu hopes strengthening of ringgit will lower food import costs

He says the ringgit has strengthened to RM4.40 despite being expected to weaken to RM5.00 against the US dollar this month.

Mohamad Sabu (third from left) with Kedah PH chairman Mahfuz Omar (left), Kedah BN chairman Jamil Khir Baharom (second from left) and Gurun assemblyman Johari Abdul (right) showing their support for the PH candidate in the Padang Serai election, Sofee Razak, last night. (Bernama pic)
KULIM:
Amanah president Mohamad Sabu hopes the ringgit will continue strengthening, thus reducing the cost of food imports.

The newly minted agriculture and food security minister also hoped the strengthening trend of the ringgit, which was visible after the 15th general election (GE15), would continue.

“The change of government and the appointment of the prime minister (Anwar Ibrahim) have led to a sharp increase in the strength of our currency. We hope this will be maintained 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,” he told reporters here last night.

He said despite being expected to weaken to RM5.00 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 have a smaller Cabinet involving only 28 ministers.

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

Earlier, Mohamad attended a ceramah programme for GE15 in Padang Serai, which was also attended by Kedah PH chairman Mahfuz Omar and Kedah Barisan Nasional chairman Jamil Khir Baharom.

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