MTEN to Address Oil Security and Supply Chain Risks

JOHOR BARU – The National Economic Action Council (MTEN) will convene this week to assess Malaysia’s oil supply security and the potential economic fallout from escalating global energy disruptions. Economy Minister Akmal Nasrullah Mohd Nasir stated that the meeting, chaired by Prime Minister Datuk Seri Anwar Ibrahim, will prioritize mitigation measures to shield the domestic market from volatile international conflicts.

Oil Security

A primary concern is the potential blockade of the Strait of Hormuz, a critical artery for global energy. Such disruptions threaten to drive up costs for petrol, diesel, and petroleum-based manufacturing. While Malaysia maintained a low inflation rate of 1.4% last year, the Minister warned that rising logistics and production costs could trigger fresh inflationary pressures.

The government aims to ensure industrial stability, particularly for the transportation and logistics sectors, which are most vulnerable to price hikes. By identifying at-risk industries early, the MTEN seeks to fortify Malaysia’s resilience against a rapidly shifting global energy landscape.

Business News