Weak ringgit has minimal impact on medicine import: Dzulkefly
Published on: Saturday, February 24, 2024
By: Bernama
The Health Minister says the ministry has implemented hedging methods to avoid conducting medicine acquisitions at high prices. (Bernama pic)
TANJUNG KARANG: The current depreciation of the Malaysian ringgit only has minimal impact on the procurement and purchase of medicines from abroad, said Health Minister Datuk Seri Dzulkefly Ahmad.
He said this because the ministry has implemented hedging methods to avoid conducting medicine acquisitions at high prices.
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“In any procurement, we implemented the hedging strategy, meaning we made purchases in advance to avoid being affected by fluctuating currencies.
“So we buy and 'lock in' early. “Because of that, even though our currency has depreciated a little in the last couple of days, the actual (purchase of medicines from abroad) is paid at the price we have 'locked in',” he said.
Dzulkefly said this to reporters after the handing over of the Tanjong Karang Dental Clinic Construction Project to the Health Ministry here today.
Dzulkefly said the current low exchange rates also have a positive impact, especially on the medical tourism sector, as more patients from abroad will seek healthcare treatment in the country.
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Earlier, in his speech, Dzulkefly said construction of the Tanjong Karang Dental Clinic, on a 1.21-hectare site next to Tanjong Karang Hospital, began on June 15, 2020, and was completed in December last year at a cost of about RM13 million.
“This new building houses a primary dental clinic, an orthodontic specialist unit and the Kuala Selangor District Dental Health Office.
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“This clinic is equipped with eight dental chairs, namely five primary dental chairs and three dental chairs for the orthodontic unit as well as an intraoral x-ray room and a dental laboratory for the preparation of dental prostheses,” he said.
He said the clinic would begin operation on March 4.
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