The country will be plunged into an “economical emergency” next year, says PAS information chief Mahfuz Omar.

He explained in a press conference today that the party based its observations on the expectation of the depreciation of the Malaysian currency (RM), the falling of oil prices and rising inflation.

With that, Mahfuz ( right ) added that PAS is not convinced that Putrajaya is able to accommodate the depreciation of revenue with income from the goods and services tax (GST).

He said based on the announcement by the national petroleum company Petronas, their contribution into the revenue of the nation will decrease by RM25 billion.

“We are heading straight towards an economical emergency. So, I worry that the government expects to balance it out with GST...since Petronas itself predicted their contributions to the government will decrease by RM25 billion.

“This is a massive figure,” he said.

According to him, the critical period that awaits Malaysia next year, demands the presence of a full-time finance minister.

It is time, he said, for Prime Minister Najib Abdul Razak to relinquish his position as  minister of finance and elect another for the post.

“What the country needs is a finance minister who is more focused towards dealing with this issue.

“We have two finance ministers, but we look like we have lost our way.

“So, this would be the best time for Najib to relinquish his finance minister post,” he said.

Mahfuz added that a with only one finance minister, he or she will be able to fully focus on the country's impending economical emergency.