PUTRAJAYA: A special meeting on the Johor-Singapore Special Economic Zone (JSSEZ) between the federal and state government will be held on Feb 28 to fast track discussions on its establishment.
Government spokesman Fahmi Fadzil said the meeting, chaired by Prime Minister Datuk Seri Anwar Ibrahim, would be attended by the Johor Menteri Besar and various other ministries.
This includes the Transport Ministry, Investment, Trade and Industry Ministry, Economy Ministry, Home Ministry and Finance Ministry.
"The Prime Minister has stressed that there should be an overall coordination, hence a meeting between the state government and federal government would be held on Feb 28 to assess a number of matters," Fahmi, who is also Communications Minister, said at a press conference today.
He added that some of the issues that would be discussed are the location of the JSSEZ and border issues.
Meamwhile, Fahmi said any proposals to increase the overnight policy rate (OPR) as the solution in addressing the depreciation of the ringgit would only burden the rakyat.
He said increasing the OPR would only cause the interest rate in Malaysia to fluctuate.
Fahmi said the government left the decision of the OPR to Bank Negara Malaysia.
"Increasing the OPR would not help the rakyat. The Prime Minister is well aware of this issue.
"I think that is not a good move at this time but we will leave the decision to Bank Negara," he added.
Earlier today, it was reported that the ringgit had reached a new low against the Singapore dollar just a day after hitting 3.56.
https://www.nst.com.my/business/economy/2024/02/1015836/ringgit-continue...
Fahmi said the Cabinet meeting held today did not discuss the depreciating ringgit.
He, however, said analysts also projected the ringgit to strengthen this year, adding that the government would expedite efforts to do so.
This includes expediting export processes and investment approvals.