KOTA KINABALU: The ringgit’s strongest performance in 14 years is due to Malaysia’s sound policies, as well as her strong diplomatic and economic ties with other nations, says Datuk Seri Anwar Ibrahim.

“It is not about me; it’s not about Anwar. It is about the strength, unity and policies of our government,” the Prime Minister said on the ringgit’s latest performance.

The ringgit rose 1.6% against the US dollar on Friday, gaining for the 10th straight day, its best since 2010.

On Friday, the local note closed at RM4.49 against the greenback.

The Prime Minister said the achievement reflected not only the government’s dedication and commitment but also the effort and hard work of the people.

This, he said, has earned Malaysia respect on the global stage, citing that he was invited to discussions with the world’s top leaders, including Russian President Vladimir Putin and Indian Prime Minister Narendra Modi because of the government’s policies.

Addressing the Sabah PKR Convention, Anwar refuted claims that Sabah only received RM6.6bil from the Federal Government, when in fact, RM16bil was allocated for the state’s expenditures covering security, schools and development.

He gave a breakdown of the allocations, where the remaining RM7.9bil is for managing federal agencies and another RM1.5bil for state allocations, including those under Article 112D of the Federal Constitution.

He disclosed that Putrajaya collected “quite a lot from Sabah”, adding that the collection was RM10.2bil in revenue last year.

He said the revenue comprises RM600mil from domestic tax, customs and excise duty (RM700mil), Inland Revenue Board tax (RM7.2bil) and RM1.7bil from the 5% petroleum payment.Addressing the backlash over federal allocations to Sabah, Anwar said the significant funding was not due to pressure from the state leadership but rather a testament to his commitment to equitable governance.

“Friends should ask nicely. I would not have minded if criticisms came from the Opposition, but it is disappointing when these remarks come from friends.

“If you want to be a friend, then act like one. Friends should understand the government has responsibilities, and these actions are in the best interest of the people,” he said.

Anwar said fulfilling the rights of Sabahans as enshrined in the Malaysia Agreement 1963 (MA63) was the right thing to do, adding that the current government had made more progress within a year compared to the previous administrations.

He said that discussions were ongoing to increase the allocations for Sabah and Sarawak, but pointed out that this depends on the country’s fiscal situation.

Addressing the same gathering, Chief Minister Datuk Seri Hajiji Noor reiterated his full support for Anwar, saying he did not forget the Prime Minister’s backing during the political crisis in the state last year.

He said it was Anwar’s confidence in him that made it possible for him to stay on as chief minister.

Calling it “maturity in politics”, he said this led to political allies gained, namely that of Pakatan Harapan.

“I value the support from Pakatan following the crisis. As chief minister and chairman of Gabungan Rakyat Sabah (GRS), we stand strong behind the PM,” Hajiji pledged.

The political crisis was triggered after Sabah Barisan Nasional-Umno withdrew support for the GRS government on Jan 6, last year.

However, GRS managed to muster the support of 44 assemblymen, which enabled Hajiji to remain as Chief Minister after garnering a simple majority in the 79-member state assembly.

https://www.thestar.com.my/news/nation/2024/08/05/pm-ringgits-rise-due-to-strong-policies