Prime Minister Najib Abdul Razak's decision to increase the toll rates on 18 highways has been called a 'suicidal move' by Pakatan Harapan, amidst a weakening economic situation.

Foreign investors were pulling out billions of ringgit from their investments in Malaysia because they have lost confidence, PKR secretary-general Rafizi Ramli said today.

"At this juncture, Malaysia has to rely increasingly, more and more, on domestic consumption, which depends on the disposable income of every household," Rafizi said.

However, the series of events that have taken place this year have reduced the rakyat's buying power, he said at a joint press conference with DAP and Amanah.

The opposition coalition was referring to the implementation of the goods and services tax (GST) in April, rising petrol prices, LRT fare increment and the announcement of the highway toll rates hike yesterday.

"It is madness for a government facing investors' confidence crisis to do anything to hurt or weaken the buying power of the consumer, because that will weaken domestic consumption," Rafizi ( photo ) said.

"Thus, it is 'suicidal' of Najib's administration to push the economic burden to the rakyat," he said.

Also present was Amanah's director of strategy Dr Dzulkefly Ahmad and PKR Kelana Jaya MP Wong Chen.

Dzulkefly said Najib was unsure where his 'Najib-nomics' would lead the country to and he has, by his actions, robbed away the disposable income of the rakyat.

Najib should know very well the economic growth is driven by domestic consumption, he said.

"He has robbed away the disposable consumption of the people. This has showed Najib isn't sure which way he is going. He is not only confused, he is lost," Dzulkefly said.

The newly-formed opposition pact will reveal its alternative budget on Thursday, which is ahead the 2016 Bugdet due to be tabled in Parliament at the end of this month.

According to Dzulkefly, the alternative budget prepared by the economic committee of the newly-formed Pakatan Harapan would be able to resolve the recession that is expect to hit the country, at the latest by the end of 2016.

Rafizi also announced that a senior member of Umno would join PKR on Thursday, adding that details would be provided then.

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