West Asia Conflict: Special Committee On Economic Impact To Begin Work, Present Report Friday - Fahmi
PUTRAJAYA, March 11 (Bernama) -- A special committee chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan is being activated to study economic developments and impact following the United States (US)–Iran conflict, said MADANI Government spokesman Datuk Fahmi Fadzil.
Fahmi, who is also the Communications Minister, said the committee has been formed in line with the earlier announcement by Prime Minister Datuk Seri Anwar Ibrahim.
“The committee chaired by Finance Minister II is being activated,” he told a post-Cabinet press conference here today.
Fahmi said the committee’s findings will be presented at the special Cabinet meeting scheduled for this Friday.
Earlier today, Prime Minister Datuk Seri Anwar Ibrahim said Amir Hamzah will lead the special committee, making assessments together with Economy Minister Akmal Nasrullah Mohd Nasir and other relevant ministers.
“The committee will evaluate issues related to the economic impact on a daily basis so that updates can be provided to the government leadership,” he said.
Anwar also assured that Malaysia’s oil supply remains under control even though the conflict in the region could potentially affect the global energy market.
“The supply of petroleum products in this country is sufficient at least until May 2026,” he said.
Tensions in West Asia have remained high since Feb 28 when Israel and the United States launched attacks on Iran, triggering retaliatory strikes by Tehran against US interests in Gulf countries.
This has raised concerns over the stability of global trade routes, particularly in the Strait of Hormuz.
The narrow strait located between Iran and Oman is one of the world’s most important shipping routes for oil and gas transportation, with a large portion of global energy supply passing through the area every day. As a result, any geopolitical tensions in the region have the potential to affect energy markets, logistics costs, and the global economy.
-- BERNAMA