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.Tan Sri

Abul Hassan was the director general of the Economic Planning Unit in the Prime Minister's Department. Dato' Nor Mohamed Yakcop was in charge of the foreign-exchange operations at Bank Negara when the bank lost RM16 billion (the actual figure was not known) on foreign-exchange trading in 1992 and 1993. He resigned.

Dato' Mustapa was political secretary to Tun Daim. It is interesting to see how he performs as Second Finance Minister.

With the change in the leadership of the Finance Ministry and the Bank Negara, the policy is expected to shift.

Fourteen months ago, we talked about a temporary capital control measures to tide over the crisis. Then, the Government dithered on interest rates.

Now, Dato' Seri Anwar Ibrahim is no longer Deputy Prime Minister and Finance Minister. Dr Mahathir, Tun Daim Zainuddin, the Miinister for 1998, the Kuala Lumpur Stock Exchange, KLSE, composite index rose by 110 points, 30%, closing at 445. We hope that this is not a flash in the pan and that KLSE will continue to do well.

The capital control measures have positive and negative effects. They can stop the attacks on the currency. Some may argue that these measures may not necessarily work for long. Many foreign investors are cautious about what they mean.

The gradual lowering of interest rates make many businessmen happy. Dato' Seri Dr Mahathir Mohamad, Minister for Special Functions Tun Daim and Dato' Mustapa are playing their parts in restoring the economy of the nation.

Where is the money coming from?

We propose that Dato' Seri Dr Mahathir, Dato' Mustapa and Tun Daim explain clearly the financial and economic policies and measures. Let us hope that these will help the economy to recover.

Dr Tan Seng Giaw