Dzulkefly Ahmad said the current low exchange rate for the ringgit has a positive impact on the medical tourism sector. (Bernama pic)
PETALING JAYA: The recent decline in the value of the ringgit has minimal impact on the government’s procurement of medicines from overseas as prices had been “locked in” much earlier, says health minister Dzulkefly Ahmad.
He said this was part of the health ministry’s strategy in hedging against the fluctuation in foreign exchange rates, and to avoid purchasing medicines at higher prices, Bernama reported.
“In any procurement, we implement the hedging strategy. This means purchases are made in advance to avoid being affected by fluctuating currencies. So we buy and ‘lock in’ early.
“Because of that, even though our currency has declined a little in the last few days, the actual cost (for the purchase of medicines from overseas) is based on the price we have ‘locked in’,” he was quoted as saying at an event in Tanjong Karang.
Meanwhile, Dzulkefly said the current low exchange rate for the ringgit has a positive impact on the medical tourism sector, as more overseas patients could come to Malaysia for their healthcare treatment.
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