Despite global crude oil prices having climbed following the continued conflict in the Middle East, Malaysia is better placed to manage near-term oil price volatility arising from the crisis because it remains a net energy exporter, according to finance minister II Datuk Seri Amir Hamzah Azizan.
“Fundamentally, I think it is important to recognise that Malaysia is a net energy exporter. In that sense, we have some positive benefits that are going to come out from this one,” he said. He said that Malaysia’s position as a producer and exporter supports stable gas supply for utilities and industrial users, and that the country is better positioned than many others in managing the fallout, although higher global prices would still filter through the system.
As such, he said the government remains focused on managing the domestic impact, particularly on households, through fuel supply stability and subsidy measures, as The Edge reports. “It is also important to understand the implication of what is going to happen in the country itself, especially for people in Malaysia,” he said.
He said the immediate priority is to ensure that the fuel supply, including that for gas and petrol, remains stable across the country. With regards to petrol, he said the government is monitoring domestic supply conditions closely to ensure that petrol supplies are in good shape. “And I think stocks are at good levels at this point of time,” he said.
Amir Hamzah said the impact on consumers would continue to be managed in line with the government’s broader approach, including prime minister Datuk Seri Anwar Ibrahim’s earlier assurance that subsidised petrol prices would remain unchanged for the next two months.
He added that the country’s efforts in the past two years working on subsidy rationalisation and managing the pass-through of higher costs into the system had allowed the fiscal impact on the government to be handled better. At the same time, he said Malaysia’s resilience depends on the crisis not becoming prolonged. “If this is not a prolonged issue, Malaysia has the capacity to withstand it,” he said.
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Malaysia the tongkat country that requires a subsidy for petrol
Fake national football players.
Fake promises to rakyat.
Fake reformasi.
Fake Gomen.
A mossad agent like u from a zionist fake country which illegally occupies Palestinian & other Arab lands, tries to destabilise the staunchly pro-Palestinian govt of Malaysia with fake allegations, when it is your zionist fake country which started the war in the 1st place that brought about the oil price hikes that also threaten the world economy. u can go BERAMBUS LAH!!
rogue nation already eliminated six leaders of oil producing countries – sadam, binladen, gadafi, asad, maduro, khomeini. malaysia is also oil producer so dsai should bend the knee to Maga and zion if he wants to remain pmx.
Well once it goes up don’t bring it down, this is your chance to end the subsidy drug addiction, do away with the subsidy. People need to curb their joyrides and needless wastage of fuel. Vehicles that are way old to be fit for the roads need to be totally written off, those are highest fuel consumers and there are a lot of those junk out on the roads. High fuel prices will force those low-lifes to finally get rid of those dastardly trash cans on wheels.
I am the OG Dino but wasn’t posted by me. This is copy paste of my original post under a similar topic. Anyway the message doesn’t message, you could have posted something similar under your real name instead of copy pasting it verbatim posing as me.