Kuala Lumpur: Members of parliament (MPs) today outlined several proposals to strengthen the country’s economy in the face of retaliatory tariffs from the United States (US) and global economic uncertainty. Paya Besar (BN) MP Datuk Indera Mohd Shahar Abdullah urged the government to expedite the announcement of the new gross domestic product (GDP) forecast for 2025 as preparations for the country and economic sectors to adapt to the country’s economic situation need to be taken.

According to BERNAMA News Agency, Mohd Shahar expressed concerns that delaying this announcement could also postpone the unveiling of the 13th Malaysia Plan this year. He emphasized the close connection between a country’s economic growth and the scale of global policy uncertainty. He questioned the government’s strategy to address the situation and whether Malaysia would take mitigating steps, adapt, or simply accept the impending tariff levels.

Meanwhile, Lim Guan Eng (Bagan-PH) proposed that Bank Negara Malaysia’s Overnight Policy Rate (OPR) be reduced by 1.0 percentage point to 2.0 percent from the current 3.0 percent. He highlighted that with inflation increasingly under control, the primary focus should be on driving economic growth. Lim also suggested opening business opportunities and access to local industries by requiring all foreign and local investors to purchase at least 50 percent of local products, addressing concerns that foreign contractors often bypass local SMEs for their own country’s goods.

Datuk Seri Hamzah Zainuddin (Larut-PN) called for a study to reduce dependency on imported food and agricultural products, highlighting the importance of food security for the future. He stressed the need to support farmers in anticipation of potential long-term tariffs under the Trump administration, which could impact Malaysia’s food security.