KUALA LUMPUR: Parti Pesaka Bumiputera Bersatu secretary general Datuk Seri Alexander Nanta Linggi has speculated about the possibility of the state introducing its own currency considering the unpredictable economic conditions in Malaysia.
FMT reported Nanta as saying that the Sarawak currency move was something that could be considered if Malaysia's less favourable economy persists.
"If Sarawak's economy is good, while the national economy is not doing so well, perhaps Sarawak will have our own currency.
"If Sarawak is better than others, why not? This is what I'm trying to emphasise," Nanta said in a podcast to mark National Day and Malaysia Day, entitled "From Malaya to Malaysia: 60 Years" that was released today.
"I hope people are not calling me a traitor, but I'm talking seriously. If we are so good in developing our economy, (then) by calculation, our economy should be strong," said Nanta, who is also the secretary-general of Gabungan Parti Sarawak.
Nanta, who is the Works Minister, did mention under which law Sarawak would derive power over currency as under the Federal Constitution, only the federal government has powers over currency.
Bank Negara Malaysia is empowered by the Central Bank of Malaysia Act as the sole authority to issue currency in Malaysia. The law defines Malaysia's unit of currency as the ringgit, divided into 100 sen.
In July, it was reported that Sarawak has been categorised as a high-income state, according to World Bank economist Apurva Sanghi.
Apurva said the gross national income (GNI) of Sarawak has exceeded the high-income threshold of US$13,205 (RM61,500), based on the World Bank's conversion of the data obtained from the Statistics Department.