Malaysia announces measures to address supply disruptions amid energy crunch
Sign up now: Get insights on the biggest stories in Malaysia
A man holds a nozzle at the petrol station in Port Dickson, Negri Sembilan, Malaysia, on March 25.
PHOTO: EPA
KUALA LUMPUR - Malaysia on April 7 announced several measures to address supply disruptions caused by the Middle East conflict, with the government warning that the country only has enough energy supplies until the end of May.
“While the government has assured stable supplies for April and May, the biggest challenge is how to meet energy supply needs from June onwards,” Economy Minister Akmal Nasir said in a televised announcement.
The central bank will provide support to companies affected by fuel shortages, amid wider efforts by the government and state oil firm Petronas to diversify energy sources, strengthen cooperation with trading countries, and secure production inputs, Mr Akmal said.
The government will use data to better identify, detect and respond to pressures on sectors most affected by the conflict, he said.
A special access pathway will also be established to address shortages of critical medicines and medical devices, he said.
Earlier on April 7, the Federation of Malaysian Manufacturers (FMM) - which represents over 13,000 companies - said raw material shortages, soaring logistics costs and tightening diesel supply were threatening production across sectors that manufacture food, household goods, packaging, chemicals and consumer products.
More than two-thirds of respondents in an industry survey expect raw material shortages within four weeks while 8 per cent hold less than two weeks of stocks of critical materials, FMM said in a statement.
Nearly half have reduced output or suspended product lines in response to current conditions, while 51.8 per cent have experienced shipment delays, FMM said. REUTERS
