Long road ahead from West Asia conflict, Malaysia remains resilient, says Anwar

KUALA LUMPUR, April 1 — The prolonged conflict in West Asia is expected to require a lengthy recovery period, but Malaysia remains in a relatively stable economic position to weather the challenges, Prime Minister Datuk Seri Anwar Ibrahim said.

He said the situation has disrupted global supply chains, particularly in energy, although Malaysia has thus far managed to remain resilient.

“When this happens, it will certainly affect global supply chains, especially energy, and Malaysia is not spared. However, we must be grateful as we are entering this phase with a relatively stable economy and are still able to maintain RON95, for example, at RM1.99.

“That is quite remarkable because if we look at oil prices and supply conditions, with people having to queue and rationing taking place in some countries in the region, it is clearly challenging. So when the situation eases slightly, it does not mean we can be complacent,” he said in a video message today.

He said recent developments indicate that the conflict has not only affected countries in the region but is now being felt globally, including in Malaysia.

“From my discussions with Iran’s president, leaders of Gulf countries, Saudi Arabia, Türkiye and Egypt, as well as my recent visit to Indonesia with President Prabowo Subianto, all indicated that the situation may worsen before it improves and will certainly take a much longer time to recover.

In this regard, Anwar stressed that any easing of the situation should not lead society or the country to become complacent or take current challenges lightly.

The prime minister said the government is leveraging the National Economic Action Council (MTEN), supported by highly credible figures, to help address the challenges.

He said several special programmes involving the Cabinet and dedicated committees have also been held to manage fuel consumption while ensuring the country’s energy supply remains secure.

“We are grateful that the planning by our national oil company, Petronas, has enabled us to ensure sufficient oil and gas supply at least until May, which greatly helps the people and the country,” he said.

Meanwhile, Anwar said the government has also taken early measures, including encouraging a more moderate and prudent approach in the Aidilfitri celebrations.

He expressed appreciation to all parties who have embraced the spirit by avoiding extravagance and refraining from excessive displays of wealth as if no one were affected.

He noted that such behaviour could be detrimental to the country, as many Malaysians, including farmers, fishermen and workers, continue to face economic pressures.

“Those who are more affluent and hold higher positions must not be negligent, but instead show concern and extend assistance during these challenging times,” he said. — Bernama