Malaysiakini Letter

Time to replace underperforming ministers

Jamal Shamsudin  |  Published:

LETTER | The situation of the national economy is fragile. At the ground level, the small and medium businesses are feeling the pinch. Even general practitioners are complaining of low patient counts as the cost of medical service and medicine has increased.

A sick person either just ignores his sickness up to a point, or just gets his medicine from pharmacies to avoid consulting doctors.

Our KLSE is the worst performing in Asia, two years in a row. The finance minister says he does not know or care about the stock market because he does not invest in it. What stupidity, when the stock market is the pulse of the economy, giving liquidity for businesses to grow and invest.

This is the worst stock market in 30 years that we have invested in, where a margin call does not recover after one year and eight margin calls.

The economy is not the playground of politicians to show off their elephant-sized egos. We need experts to revive the stock market and the economy. 

Millions of Malaysians especially from the M40 are suffering due to the collapse of the stock market and millions more unit trust holders.

Nothing to show by the finance minister or economic affairs minister to revive the KLSE. 

The responsibility is on them to garner confidence in Bursa Malaysia. As the market slides to new lows, it is met with silence.

We urge that the prime minister appoint proven experts in finance and economics to urgently rectify the situation before a catastrophe happens.

A minister is in his position due to the belief that he will be the best person to deliver in his portfolio. It certainly should not be an on-the-job training but a job to deliver and deliver effectively.

Ministers should not necessarily be politicians. Certain important and specialised portfolios could be given to experts in their respective area with an outstanding track record.

Many suffering M40s will soon graduate to B40 group if no remedial action is taken.


The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.

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