SHAH ALAM, March 31 — Putrajaya will reprioritise development projects to focus on those delivering the greatest economic benefit, as the conflict in West Asia continues to weigh heavily on economies worldwide, said Transport Minister Anthony Loke Siew Fook.
He said existing budgets would be maintained, adding that ongoing projects would not be cancelled.
“As far as my ministry is concerned, we are not stopping any projects. There are no cuts in terms of government budgets at this point in time,” he said at a press conference after attending a fundraiser for SMJK Chan Wa at Courtyard by Marriott here today.
Loke said the government will continue to assess and prioritise projects to ensure optimal economic returns, adding that the government is committed to sustaining its national development agenda despite external uncertainties and that authorities are monitoring the situation.
On whether the third Port Klang terminal project on Pulau Carey would be affected by the conflict, Loke clarified that the project is not government-led.
“It is a private sector project, and they typically assess their (investments) on a long-term basis,” he said.
West Asia has been embroiled in conflict since the United States and Israel launched a joint offensive on Iran on February 28, with the war having killed at least 2,000 people so far.
Global oil prices have surged since the conflict escalated, driving costs up worldwide, after Tehran blocked the vital Strait of Hormuz.
