Or more crudely, how long will we allow this to go on.
If YESTERDAY, we told you the MAIN reason WHY, Malaysia's Nikkei PMI Index is contracting ,at a time when exporters are unable to enjoy benefits of a cheap Ringgit, Zahid Hamidi, hits the Bull's-eye TODAY.
Free Malaysia Today, has the story. You can read it here :
Putrajaya’s decision to freeze the intake of foreign workers led to the furniture and plantation sector incurring losses of over RM7.7 billion, Deputy Prime Minister Ahmad Zahid Hamidi revealed.
The inability to hire sufficient manpower, Zahid said, saw the local furniture industry record RM6.7 billion in losses, while the plantation industry incurred losses of over RM1 billion.
Many furniture companies, he explained, were unable to deliver their products for the international market on time.
“The furniture exporters have signed agreements with foreign buyers but they cannot fulfil their obligations due to the insufficient workforce.
“I know that the furniture industry alone needs more than 8,000 Bangladeshi employees and they are waiting for the freeze on intake to be lifted due to production issues.”
Zahid, who is also the home minister, said this when winding up the 2017 Budget for his ministry
