KOTA KINABALU: The National Consumer Foundation Malaysia has urged consumers not to take the current global energy crisis lightly, calling for greater vigilance and prudence in spending.
Its Sabah chairman David Chan said the prolonged conflict in the Middle East has driven up fuel prices, disrupted supply chains and increased costs across multiple sectors.
“These developments are expected to further slow the global economy, creating a more challenging and competitive environment for both businesses and consumers,” he said, adding that many countries are already grappling with rising unemployment and industrial constraints that could have spillover effects on Malaysia.
“In such uncertain times, consumers should adopt a more cautious financial approach by prioritising essential spending, avoiding unnecessary expenses and strengthening personal savings.
“Financial discipline is crucial during periods of economic turbulence. Consumers must be prepared to adjust their lifestyles, manage their resources wisely and remain resilient in facing potential economic headwinds,” Chan said.
He also expressed appreciation to Prime Minister Datuk Seri Anwar Ibrahim and the Federal Government for their continued efforts to address the rising cost of living.
“The government’s commitment to safeguarding the welfare of the rakyat, particularly the B40 and vulnerable groups, is both timely and commendable,” he said.
However, Chan noted that the burden of high living costs remains a pressing concern.
“We call on all relevant authorities to continue enhancing targeted assistance, strengthening price monitoring mechanisms and ensuring that essential goods remain affordable and accessible to the people,” he said, urging consumers to “spend wisely today to secure tomorrow.”
