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THE Government is spending RM4 billion each month to shield its economy from the fallout of escalating global tensions, Prime Minister Datuk Seri Anwar Ibrahim said, warning that the impact of the West Asian conflict could be long-lasting and continue to strain global supply chains.
The allocation, channelled through the government’s People’s Support Initiative, is aimed at cushioning the rise in fuel prices driven by ongoing hostilities involving Israel, the United States and Iran since late February.
“This is no small matter. Those who raise this issue must understand that the government is providing an additional RM4 billion to assist the people, in order to cushion the impact of rising global fuel prices.
“However, our capacity is of course limited, and one should look at the experience of other countries. Therefore, if there are any suggestions from traders, fishermen or workers, please put them forward.
“The National Economic Action Council (NEAC) and the relevant Cabinet committees meet daily, and we are calling in several representatives.
“This includes myself personally calling in small contractors as well as representatives of fishermen and farmers to hear their grievances and to try to support and assist as much as we are able,” he said.
Anwar said consultations are ongoing with industry representatives and grassroots groups to ensure targeted assistance, as authorities seek to manage the ripple effects of rising costs on livelihoods.
He added that Malaysia is also diversifying its oil and gas import sources to secure energy supply, with national oil company PETRONAS playing a central role.
“We are diversifying our sources of oil and gas imports from other countries. This has already been announced, and once again it is due to the capability of the national oil company, PETRONAS, in managing this well,” he said.
The Prime Minister cautioned that recovery from the crisis may take time, citing discussions with leaders from Gulf states as well as countries including Saudi Arabia, Türkiye, Egypt and Indonesia, and Iran’s President, Masoud Pezeshkian.
He said prolonged tensions would inevitably disrupt global supply chains, particularly energy flows, although Malaysia remains relatively resilient.
“We should be grateful that we are entering this phase in a relatively more stable economic condition and are able to withstand it.
“For example, RON95 at the subsidised price of RM1.99 is striking, because if we look at actual oil costs and prices, people in some countries have to queue and face rationing, which is certainly burdensome,” he said.
Anwar urged Malaysians not to take lightly the impact of the prolonged conflict in West Asia, stressing that its effects are already being felt worldwide.
“We have voiced our concerns because the West Asia conflict, following attacks by Israel and the US on Iran, has spread to neighbouring regions.
“Now its effects and repercussions have reached the entire world, including our beloved country, Malaysia.
“When the situation eases slightly, it does not mean we can be complacent. The failing of any society, family or nation is when we become too comfortable and take matters lightly, as this could lead to more serious problems,” he said. - April 2, 2026
