Effects of oil price rise under study

  • Nation
  • Tuesday, 04 Mar 2003


PETALING JAYA: The Transport Ministry will study the effects of the oil price increase on industries to find ways to minimise the impact. 

Minister Datuk Seri Dr Ling Liong Sik said the ministry would discuss with the Domestic Trade and Consumer Affairs Ministry and the Treasury to see whether they took into account the impact on sectors like fishing.  

Dr Ling said fishermen would be among the ones most affected by price changes in oil. 

Ling with Deutsche Post World Net CEO Dr Klaus Zumwinkel at the opening of DHL Danzas Air and Ocean Logistics Centre in Petaling Jaya on March 3.

“I was in Lumut recently and discovered that the fishermen were finding it difficult to cope with the price change,” he told a press conference after opening the DHL Danzas Air and Ocean Logistics Centre here yesterday. 

He said that owners of motor vehicles and transport operators were “not so much affected” as the amount they would have to pay for their supply was determined by pump prices. 

“This is because the government controls the pump prices and the increase is only minimal, by one to two sen,” he said. 

Asked about the impact of the price hike on international and domestic flight fares, he said: “The Government controls domestic fares and so far we have not received any application for a price increase.” 

On discussions of a workable formula between Malaysia Airlines and Air Asia, Dr Ling said he would discuss the matter with Datuk Seri Dr Mahathir Mohamadlater. He said competition between the two was “healthy”. 

Dr Ling also said the Government would conduct a three-month study on how to improve the efficiency of the logistics industry and supply chain management.  

“We will be looking at every aspect of the logistic network from banking to brokerage and from port to customs to see where we can improve with a more efficient system,” he said.  

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