PUTRAJAYA, Sept 14, 2015:
Students under government-funded scholarship who are studying abroad will not be called back to Malaysia, Prime Minister Datuk Seri Najib Razak assured today.
“Students studying abroad under government-funded scholarship will continue to be funded and they will not be recalled until they have finished their studies,” said Najib in a special press conference on the nation’s economy here.
In his speech, Najib gave assurance that the nation’s economy was stable and while the Ringgit was on a decline, this was something other countries were experiencing too, based on instability of the world’s economy.
The Prime Minister also took to announcing several measures to be taken to further strengthen the economy.
The assurance to the students was highlighted due to the fact that more than 18,000 students from Malaysia were called back during the 1997/1998 Asian crisis.
During the crisis, students were forced to come back to Malaysia due to the recession and Ringgit devaluation of almost half, from 2.5 to just under 4.57 in Jan 1998.
The crisis did not only affect the students studying abroad, but also had left UK universities with a financial black hole due to the students reduction.
Earlier, Najib had announced few measures to be taken to address issues faced by Malaysia’s economy, which posted a slower growth amid a weaker ringgit, lower commodity prices and challenging external environment.