KUALA LUMPUR, March 25, 2025 – The PAS Selangor Information Chief, Zurk Ahmad, had previously issued a statement on July 30, 2023, highlighting six failed economic formulas introduced by Datuk Seri Rafizi Ramli. Now, with Rafizi’s decision to defend his PKR Deputy President position in the upcoming party election on May 24, questions are being raised about his leadership and economic strategies, especially at a time when the nation is grappling with mounting economic challenges.
SIX RAFIZI FORMULAS THAT ALLEGEDLY FAILED
1. Affordable Car Formula
Rafizi once claimed that car prices could be reduced if excise and sales taxes were abolished, allowing Malaysians to purchase a Perodua Myvi for as low as RM25,000.
However, former Finance Minister Tengku Zafrul countered that car prices are not solely determined by taxes but also by factors such as logistics costs, interest rates, exchange rates, and market demand.
2. Boycott Restaurants Formula
Rafizi encouraged the public to boycott restaurants that refused to lower their prices, arguing that the government had already reduced the costs of raw materials.
However, market analysis showed that key raw materials such as sugar, wheat, palm oil, chicken, and eggs continued to rise due to high production costs, including animal feed prices.
3. Don’t Eat Chicken Formula
Rafizi once suggested, “If chicken prices are high, don’t eat chicken.”
Economists from UKM criticized this suggestion, arguing that chicken is the most affordable source of protein for many Malaysians, and reducing demand alone is not an effective solution.
4. Strengthening Ringgit by Raising OPR Formula
Rafizi claimed that increasing the Overnight Policy Rate (OPR) would strengthen the ringgit and insisted that the government should respect Bank Negara Malaysia’s (BNM) decisions.
However, economists warned that higher OPR negatively impacts consumers by increasing borrowing costs and reducing household spending.
5. Weak Ringgit is Good for the Country Formula
Rafizi previously stated that a weak ringgit benefits the country.
In reality, a declining ringgit raises import costs, drives inflation, and increases the cost of living, burdening ordinary Malaysians.
6. Lowering Prices Through Smart Shopping Formula
Rafizi advised the public to compare prices at multiple stores and buy from the cheapest vendor to counter inflation.
However, this theory overlooks economic concepts such as “price floor” and “beam price,” which prevent prices from easily dropping simply due to shifts in consumer demand.
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PKR DEPUTY PRESIDENT RACE: RAFIZI FACES TOUGH CHALLENGES?
Rafizi’s decision to defend his PKR Deputy President position has sparked speculation. According to insider sources, some political figures are still waiting for Datuk Seri Anwar Ibrahim’s approval before announcing their candidacy for the position.
The key question is: How will Rafizi strategize his victory this time when his economic formulas have been widely criticized? Can he maintain his influence in PKR, or will he face stiff competition from other candidates who have gained stronger trust from the party leadership?
With a history of failed economic strategies, Rafizi now finds himself in a challenging position. Will he shift his approach or continue defending his existing policies?
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PKR ELECTION 2025: POLITICAL DRAMA OR REAL CHANGE?
Rafizi has claimed that he is contesting to prevent “drama” within the party and government. However, given the scrutiny surrounding his economic policies, this PKR election may see intensified debates about his ability to manage the country’s economy effectively.