SHAH ALAM, July 2 — Malaysia’s supplies of fuel and other essential goods are stable as the government monitors broader economic impact amid geopolitical tensions in West Asia, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He added that the government had adopted a whole-of-nation approach involving agencies and industry players to ensure uninterrupted supply.
“We have not had any disruptions to the country’s fuel supplies so far… There are no long queues at petrol stations and supplies for businesses remain sufficient.
“This includes medicines, whereby we have increased stockpiles in the country,” he said during the Minister’s Question Time at the Dewan Rakyat today.
Amir Hamzah said the government is monitoring the West Asia crisis, which has triggered higher logistics costs and increased input prices globally.
“The pressure is particularly felt by hawkers and micro, small and medium enterprises (MSMEs), which are among the groups most vulnerable to rising costs,” he said.
To mitigate the impact, the government has expanded financing access for MSMEs with RM15 billion in loans and guarantees provided via banks and government agencies.
He said the government has also provided more than RM5 billion in microfinancing through institutions including Agrobank, Bank Simpanan Nasional (BSN), Bank Rakyat, Majlis Amanah Rakyat (MARA), and TEKUN Nasional to help micro-entrepreneurs sustain their businesses.
He added that more than RM500 million in microfinancing was approved between May 15 and June 26, benefiting over 30,000 entrepreneurs.
Under the RM5 billion Business Financing Guarantee Scheme (SJPP), he said RM219 million in financing guarantees have been approved as of Tuesday, benefiting more than 300 MSMEs, especially those in the agrofood, construction, logistics, and tourism sectors.
