KUALA LUMPUR: The government will continue to take the necessary measures in facing global economic uncertainty, said Prime Minister Datuk Seri Anwar Ibrahim.
He said the global economic situation has become more challenging this month compared to three months ago in February.
"At the end of February, crude oil prices were at US$70 per barrel, and today they have surged to US$115 per barrel. The increase is very steep, meaning the impact of this economic (uncertainty) is felt worldwide.
"There are (shortages) of materials for those working in plantations, (for example) a short-term shortage of phosphate, and (prices) of diesel have risen. Those working in factories, those driving lorries...everyone is affected," he said.
He said this when delivering his Workers' Day message in conjunction with the National Workers' Day 2026 celebration held here today.
Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Human Resources Minister Datuk Seri R. Ramanan, Communications Minister Datuk Fahmi Fadzil, and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
Anwar said Malaysia is also maintaining the subsidised RON95 petrol price under the BUDI MADANI RON95 initiative at RM1.99 per litre, even though most oil-producing countries have already raised their prices.
"That is why I ask workers to understand why I insist on keeping the fuel price at RM1.99 per litre.
"(There is) pressure from economists and the corporate sector suggesting (to me) to be realistic. So, I am being realistic, safeguarding the national economy and the people, but I am also pondering on the fate of workers, especially those in the lower-income group," said the Prime Minister.
Meanwhile, he said the government, through the Ministry of Finance, has announced an additional RM5 billion guarantee under Syarikat Jaminan Pembiayaan Perniagaan (SJPP) to assist micro, small and medium enterprises (MSMEs) affected by global supply disruptions following the United States-Iran conflict in West Asia.
In addition, Anwar said the government, through Bank Negara Malaysia (BNM), has also announced a RM5 billion SME Stabilisation Relief Facility, bringing the total to RM10 billion to help ease the burden of MSMEs affected by the crisis.
"This is because the number of workers in MSME companies is large, and they are a key force in generating the country's economic growth," said the Prime Minister. - Bernama
