Kuala lumpur: The BUDI MADANI RON95 (BUDI95) initiative is recognized as a vital tool in managing fuel demand in Malaysia, according to Deputy Finance Minister Liew Chin Tong. The initiative, launched in September of the previous year, initially allocated 300 litres per person per month, which was later reduced to 200 litres.

According to BERNAMA News Agency, Deputy Finance Minister Liew emphasized the importance of maintaining a consistent fuel supply, especially in light of ongoing geopolitical tensions in West Asia. He highlighted the necessity of clear communication and public support to manage consumption effectively and address fiscal challenges.

During a fireside chat titled 'Malaysia's Response to Global Energy Crisis: Build Back Better', moderated by The Edge's assistant editor Emir Zainul, Liew stated that Malaysia's ability to ensure continuous access to fuel, even at reduced levels, is essential for political and social stability. This stability would allow the nation to navigate the crisis with greater confidence.

Liew pointed out that Malaysia is entering the current global energy crisis from a position of relative strength. Despite other nations facing downward revisions in growth projections since February, Malaysia's economic outlook remains robust, with Bank Negara Malaysia projecting growth between 4.5 and 5.0 percent, surpassing the government's earlier projection of 4.0-4.5 percent.

He concluded that Malaysia should adopt a 'build-back-better' approach, starting by defining the desired post-crisis state and then identifying the necessary steps to achieve it.