Kuala lumpur: The government is closely reviewing petrochemical supply issues that may potentially disrupt the food packaging chain and the supply of essential goods, following the global supply crisis, said MADANI Government spokesperson Datuk Fahmi Fadzil.
According to BERNAMA News Agency, the Communications Minister stated that the matter was discussed at yesterday's National Economic Action Council (MTEN) meeting. Further studies are being conducted by the Ministry of Economy and the Ministry of Investment, Trade and Industry (MITI). Fahmi emphasized that the government is aware that petrochemical supply disruptions extend beyond plastics and affect the production of essential materials such as ammonia, urea, and helium, which are widely used across various industrial sectors.
Fahmi highlighted concerns about the impact on the supply chain arising from the closure of the Strait of Hormuz. Additional studies are ongoing, and the findings are expected to be discussed again at the MTEN meeting next week. As an initial measure, the Association of Banks in Malaysia has announced that small and medium enterprises (SMEs) or micro, small and medium enterprises (MSMEs) facing financial difficulties may negotiate directly with commercial banks for flexibility on existing financial facilities.
The approach is aimed at ensuring that industrial operations, especially in the food manufacturing and packaging sectors, are not significantly affected should disruptions in raw material supply continue. Recently, the Malaysian Plastics Manufacturers Association (MPMA) noted that the country's plastic manufacturing industry is expected to experience continued volatility in the near to medium term amid the West Asia crisis. This situation is likely to result in shortages of essential goods, higher costs, and downstream inflationary pressures, ultimately affecting the overall cost of living.
In another development, Fahmi mentioned that the proposal by Gabungan Kelab Media Malaysia (GKMM) to retain the 300-litre monthly Budi MADANI RON95 (Budi95) fuel quota for media practitioners is also expected to be discussed at the next MTEN meeting. So far, this matter had not been specifically addressed, as the focus of the recent meeting involved other sectors under the Ministry of Tourism, Arts and Culture (MOTAC) and MITI. Fahmi has requested that issues involving the Ministry of Communications, including applications from the creative industry sector, be brought to MTEN's attention at its next meeting.