Special finance ministry briefing for Najib

PENANG, Sept 21 — The finance ministry will give an extraordinary briefing to Deputy Prime Minister Datuk Seri Najib Razak on the national economy and financial position as well as the global situation at the ministry tomorrow.

Second Finance Minister Tan Sri Nor Mohamed Yakcop said the detailed briefing which covers all aspects concerning the finance ministry would be given by ministry officials to Najib, who is the new finance minister.

"Tomorrow is the first time Najib is attending the meeting at the ministry as finance minister and the ministry has prepared an extraordinary briefing for him.

"Various issues would be presented at the briefing including the economic situation, finance and the challenges faced in Malaysia and in the international arena," he told reporters after distributing Hari Raya contributions to 1,500 poor people organised by the Penang Muslim League at the Masjid Kapitan Keling, here today.

Nor Mohamed said the briefing would also discuss whether the ringgit would be repegged to cushion the impact of the weakening US dollar.

When asked whether the government would reduce or maintain the present retail price for petrol, Nor Mohamed said: "This will also be discussed at the briefing and Datuk Seri Najib will make the decision."

He also said the allegation that the giant insurance company, American International Group (AIG), in this country would be closed down was not true.

"I understand that AIG in this country is a separate copmpany with its own capital. The AIG here is not involved or affected by the position of the AIG abroad," he added.