Anwar: Not right for Malaysia to be economically dependent

PETALING JAYA: Malaysia should not be economically dependent on any particular country, said former Opposition leader Datuk Seri Anwar Ibrahim.

Responding to Malaysia's recent cooperation with China, Anwar claimed Malaysia was so economically desperate that it appeared to surrender too many economic interests to the Asian giant. 

"We welcome China's willingness to invest and engage in economic activity with the country. But it is not suitable for Malaysia to be economically dependent on any one country as this would prejudice the interests of national sovereignty and strategic geo-political foreign policy," he said.

Anwar also criticised Budget 2017, claiming that it was not transparent.

"The desperate economic situation is worsening and burdening the people. Two weeks after the presentation of Budget 2017 by the Finance Minister, the price of crude oil and cooking oil has increased by an exceptionally high rate," he said in a statement on Thursday.

He added that Budget 2017 is not transparent and conceals price increases which burden the public and pointed out that cooking oil is produced locally.

"Why was there no effort to contact major cooking oil manufacturers in the country to ensure that a small amount of production is allocated to Malaysians at a controlled price" he asked.

The PKR de-facto leader urged Prime Minister Datuk Seri Najib Tun Razak to scrutinise the Selangor Budget which he claims was able to manage the economy prudently, appreciate the service of civil servants and continue housing, education and healthcare welfare programmes.

The Star reported on Tuesday that China agreed to provide RM55bil in soft loans to Malaysia for the construction of the planned East Coast Rail Line (ECRL).

Apart from financing, the two countries will also sign an engineering-and-construction contract on the project.

China will carry out the detailed engineering and design of the ECRL, procure all materials and equipment, and deliver the facility to Malaysia.

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