Malaysia’s economic council is studying ways to diversify fuel sources and secure supply chains as the government coordinates a response to the global energy crisis.
KUALA LUMPUR: The National Economic Action Council (MTEN) has studied measures to diversify fuel input sources and strengthen strategic cooperation with key trading partners to ensure the security of production inputs amid the global energy crisis.
Economy Minister Akmal Nasrullah Mohd Nasir said the government is focusing on the resilience of the nation’s supply, with Petronas and relevant agencies taking action and Bank Negara Malaysia instructed to provide financing support to affected firms.
Akmal Nasrullah said his ministry is coordinating a comprehensive approach covering macroeconomic, fiscal, financial, and sectoral policies to ensure all measures are mutually supportive and effective.
This includes coordination with relevant ministries to identify appropriate actions and interventions based on affected sectors, not only in the short term but also over the medium term as the crisis is expected to impact the economy for the next six months to a year.
Several practical measures have also been agreed upon to reduce daily pressures, including implementing flexible working hours and work-from-home for the public service sector starting April 15, 2026, except for critical sectors like security, healthcare, and education.
He said three papers were discussed at the MTEN meeting, covering measures to combat leakages and smuggling, national security of medicines and medical devices, and the impact of the global energy crisis on haj operations.
On combating leakages, the main strategies are enhancing supply chain surveillance, implementing Ops Tiris 4.0 in an integrated manner with several agencies, and adopting a “whole of nation” approach.
Short-term measures for medicine security include centralised monitoring of drug stocks, diversifying import sources, and designating certain items as controlled items.
The government is also considering stronger medium- and long-term measures, including establishing a national strategic buffer stock and developing a national medicine security policy through MyMedSecure.
Regarding the haj, MTEN was briefed on the status of 31,600 Malaysian pilgrims, with the government’s priority being to ensure their safety.
Akmal Nasrullah said the government will continue to act in an orderly and comprehensive manner to ensure the people stay protected and the economy remains resilient.
“Our focus is not merely to monitor the crisis,” he added.
