Kuala lumpur: The government views the current global crisis as an impetus to strengthen the country's economic structure, including a greater focus on high-value industries, the energy transition, and a more inclusive approach to delivering public assistance.

According to BERNAMA News Agency, Economy Minister Akmal Nasrullah Mohd Nasir highlighted that, unlike the COVID-19 pandemic, which required stimulus spending due to the shutdown of economic activity, the current crisis began with pressure on oil supply before affecting other sectors, resulting in a more complex economic impact.

Nasrullah explained that the focus during the pandemic was on ensuring spending continued because economic activity had been halted. The current crisis, however, originated with oil supply pressure before impacting other supply chains. He emphasized that the crisis started with imports and related factors, but its economic impact has been more severe.

Nasrullah noted that this situation has prompted the government to focus on strengthening the country's economic resilience through more sustainable structural changes. Previously, efforts centered on incentives with funds being distributed widely, but now the emphasis is on reinforcing resilience.

The geopolitical crisis also signals the need to prioritize high-value industries, including the development of the semiconductor sector and advanced packaging. The government is also stepping up efforts to boost household income through the People's Income Initiative Insan programme, which has involved 1,125 vending machines nationwide. Of these, more than half have managed to earn an average income of over RM2,000, with cumulative sales exceeding RM20 million.

Collaboration with the Federal Territories Islamic Religious Council (MAIWP) will be expanded, with about 50 machines to be placed at various assets, including mosques, active surau, and educational institutions.

Additionally, the government plans to introduce biodiesel from June 1 to extend diesel supply by up to 20 days a year, supporting the energy transition and reducing carbon emissions.