“In the special DAP motion on the Bank Negara forex losses in Parliament last April, the Finance Minister, Datuk Seri Anwar Ibrahim strenuously denied that Bank Negara had “speculated” or “gambled” in foreign exchange.
“Anwar said that as Finance Minister, he was “fully satisfied with the reasons” given by Tan Sri Jaffar Hussein for the Bank Negara’s forex losses.”
“However, the person who must also bear responsibility for the colossal Bank Negara forex losses, apart from Tan Sri Jaffar Hussein, must be the Finance Minister, Anwar Ibrahim, himself.
“As Anwar had assured Parliament last April that he was ‘satisfied’ with Tan Sri Jaffar’s explanation for the 1992 Bank Negara forex losses, what had Tan Sri Jaffar done differently in 1993 with regard to the 1993 Bank Negara forex losses to require his resignation?”
“There are two other reasons why Anwar Ibrahim must bear personal responsibility for Bank Negara’s forex losses.
“Anwar Ibrahim said last week that he had directed Bank Negara to stop foward foreign exchange trading when he discovered its forex losses 18 months ago. If Bank Negara had followed his instructions to stop forward forex trading in 1992, then how could Bank Negara suffer RM5.7 billion losses in 1993, on top of the RM 10.1 billion to RM13.1 billion losses in 1992?”
“Furthermore, Anwar Ibrahim had misled Parliament last July when I questioned him whether Bank Negara had suffered more forex losses. Anwar said that this was not true as he had been monitoring the Bank Negara’s forex dealings weekly.
“On July 19,1993, I asked Anwar Ibrahim a supplementary question during question time as to whether at that date, Bank Negara’s provision of RM2.7 billion contingent liability for forward forex trading in the 1992 Bank Negara accounts had not only been confirmed, but even more forex losses had been incurred.”