Tengku Razaleigh Hamzah has said that any move to declare emergency in the country will be disastrous for the struggling economy. The Gua Musang MP said he was dismayed and shocked that Prime Minister Muhyiddin Yassin with the backing of his cabinet was seeking the consent of the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shahto declare a state of emergency.
Tengku Razaleigh said Muhyiddin would presumably put himself in charge of this emergency administration, which enable him far-reaching powers.
“If the prime minister were to get his way in imposing the proposed state of emergency, as an economist myself and the former minister of finance and former minister of international trade and industry (and former chairman of World Bank & IMF), I can say with some certainty that it may be the “final nail in the coffin” for our already battered economy.’
“Local and foreign investors would shun us completely. Business confidence would be at ground zero,” he said in a statement today. – TMI