Government focused on protecting jobs as global supply crisis persists, says economy minister
JOHOR BAHRU, May 30 — The government is focusing on keeping economic activity strong to safeguard jobs for the people amid a global supply crisis, said Economy Minister Akmal Nasrullah Mohd Nasir.
He said the current priority is to ensure uninterrupted supply, particularly of the country’s oil supply, to support economic activity.
“The government’s focus at present is to ensure the economy continues to move so that job opportunities can be sustained. In the first two to three months of the crisis, one of the main issues that needed to be addressed was supply-related matters.
“That is why the government has taken steps to ensure sufficient national oil supply, in line with the assurance that the country’s oil supply is adequate until the end of July,” he told reporters after attending the Korban Perdana Aidiladha programme for the Johor Bahru parliamentary constituency at Masjid Jamek Bandar Baru Uda here today.
Akmal Nasrullah said Prime Minister Datuk Seri Anwar Ibrahim had also announced several worker protection measures in conjunction with Workers’ Day, including allocations under the Employment Insurance Scheme (SIP) to assist workers affected should the impact of the crisis be felt.
He said disruptions to energy supply and production inputs could have a direct impact on the industrial sector, including slowing operations and affecting workers’ incomes.
The government is also engaging with industry players and holding discussions with foreign countries to ensure supply chains remain secure, he added.
He said Prime Minister’s upcoming visit to Japan in the next one to two weeks would also be used to discuss several strategic supply-related matters identified by the Ministry of Economy.
On geopolitical developments in West Asia, Akmal Nasrullah said uncertainty remains despite indications of a decline in global oil prices.
“This shows that developments over the past week have had a positive impact on oil price movements. To say the matter is already resolved, we are still awaiting developments in West Asia. Although a slight further decline in oil prices is expected this week, the situation remains uncertain or volatile,” he said.
