Pak Lah... you are wrong !!!!!
Is this what Dr. Mahathir trying to say ??
hint: who is the one who control the Ringgit , BNM Gabenor ??
you are half-true... who is the Gabenor's boss??
Via: TheStar
PUTRAJAYA: The 30 sen fuel increase could have been avoided if the ringgit was strengthened against the US dollars by fixing the local currency exchange rate.
Former Prime Minister Tun Dr Mahathir Mohamad said the increase was inevitable as the ringgit was “tied almost rigidly” to the US currency, hence when the price of oil quoted in the greenback went up, so did the fuel price here.
“If Malaysian currency is strengthened, the increase in prices in US dollars will not cause such a big increase in oil price paid in the ringgit.
“Our money is undervalued. If our currency is strengthened, the price of oil here will not go up so high,” he told reporters after a dialogue session with University Malaya’s student council members at the Perdana Leadership Foundation Wednesday.
On Feb 28, the Government had announced an increase in the price of petrol to RM1.92 a litre and diesel to RM1.58. Crude oil prices had soared to over US$62.91 (RM232) a barrel recently.
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