Brace for economic challenges from Mideast strife, Malaysians told

 Amanah also urges the opposition not to politicise the Middle East conflict and its economic impact for their political interests.

Amanah secretary-general Faiz Fadzil urged people to spend wisely as Malaysia could face a challenging economic climate if the ongoing conflict drags on.

PETALING JAYA:

 Pakatan Harapan component Amanah has urged Malaysians to prepare for possible economic challenges resulting from the ongoing Middle East conflict, which has led to a surge in crude oil prices.

Amanah secretary-general Faiz Fadzil called on the people to spend wisely in preparation for such challenges, especially since the nation would likely face a challenging economic climate if the conflict drags on.

“Amanah would like to remind the opposition not to politicise the war for their political interests. The rise in oil prices is a global phenomenon, but Amanah believes the government will do all it can to stabilise oil prices here.

“We urge Malaysians to join the government in making preparations to face possible economic challenges resulting from the war by spending wisely and prudently,” Faiz said in a statement.

He added that Amanah had ordered all of its divisions and members to celebrate the upcoming Aidilfitri in a moderate manner, in line with the government’s move to scrap its open houses for Hari Raya.

Yesterday, Prime Minister Anwar Ibrahim said the government would not hold any open house for Aidilfitri as part of measures to save funds in view of the economic impact of the Middle East conflict.

GLCs and investment companies have also been ordered not to hold Aidilfitri open houses, while Putrajaya will also cut down on the number of trips abroad.

While Putrajaya will maintain the price of RON95 petrol at RM1.99 per litre under the BUDI95 subsidy scheme, it has raised the non-subsidised price by 60 sen.

The price of RON97 petrol has also been raised by 60 sen while the price of diesel in West Malaysia has gone up by 80 sen following the global rise in oil prices.

The conflict in West Asia has led to the closure of the Strait of Hormuz, a key passageway for about 20% of the world’s oil supply, leading to a surge in oil prices. - FMT