Govt To Focus On National Preparedness To Face Global Supply Crisis

KUALA LUMPUR, May 19 (Bernama) -- The government is now focusing on national preparedness, policy accuracy, implementation effectiveness and fairness in the distribution of aid to address the global supply crisis following the global economic and geopolitical uncertainties.

Economy Minister Akmal Nasrullah Mohd Nasir said in this regard, the government continues to manage the global supply crisis based on four priorities including ensuring supply, especially food, energy, medicines and essential goods.

The priorities also include efforts to extend and optimise existing supply through subsidy management, leakage control and enforcement as well as curbing price increases so that cost pressures are not fully transferred to the people.

Akmal Nasrullah said that apart from that, the government will take advantage of new opportunities including in biodiesel, sustainable fuels and alternative sources.

Engagement with industry, business associations, ministries, enforcement agencies and other stakeholders will also continue to be strengthened so that every feedback can be assessed comprehensively before any policy decision is finalised.

"In facing this challenge, the government's priority remains the well-being of the people and the resilience of the country's economy.

"Good Gross Domestic Product (GDP) figures provide confidence but the reality of the people's cost of living, industrial operational pressures and global uncertainties require the government to remain cautious and act swiftly," he said at the Global Supply Crisis Briefing today.

Throughout the crisis, he said the National Economic Action Council (MTEN) had convened 10 times including today's meeting to assess the current situation and expedite government action.

According to him, a total of 24 presentation papers across 13 economic sectors had been discussed, with 96 decisions recorded, as of May 12.

"Of the total, 11 decisions had been completed and 78 decisions were still being implemented. This shows that the government's approach is not merely reactive.

"On the contrary, the government's actions are continuous through weekly monitoring, cross-ministerial coordination and review of action status to ensure that every decision is translated into prompt and effective implementation," he said.

-- BERNAMA