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FORMER Minister of Investment, Trade and Industry Tengku Zafrul Abdul Aziz has urged the Malaysian government to prepare a structured and phased economic stimulus plan to protect households and the wider economy from the sustained pressures of the global energy crisis.
In a statement posted on social media, Tengku Zafrul described the current international conflict as creating a “new normal” that is expected to continue straining energy prices and disrupting supply chains over the longer term.
He stressed that while immediate intervention may not yet be required, the government must be ready to act decisively if conditions worsen.
“The next stimulus or additional initiative need not necessarily be large, but it must be structured, phased, and activated, when necessary,” Tengku Zafrul said, underlining the importance of a proactive and measured approach rather than a reactive response.
The former minister highlighted that the government has already committed around RM4 billion to absorb the initial impact of rising global oil prices.
Efforts such as maintaining the BUDI95 petrol price at RM1.99 per litre and extending diesel subsidies for eligible sectors, he noted, have provided critical relief to households and businesses.
Reflecting on past economic upheavals, including the 1998 Asian Financial Crisis, the 2008 Global Financial Crisis, and the 2020 pandemic, Tengku Zafrul emphasised that nations acting swiftly and strategically are better equipped to safeguard citizens and recover more quickly.
He warned that fiscal prudence must be balanced with empathy for citizens facing real cost-of-living pressures.
“In a crisis, the government cannot hide behind numbers alone. The people are facing real cost-of-living pressures,” he said, highlighting the human dimension of economic turbulence.
Tengku Zafrul expressed confidence in Prime Minister Datuk Seri Anwar Ibrahim’s leadership, stressing that timely, well-considered decisions will be vital to safeguarding both the people and Malaysia’s economic stability. - April 2, 2026