IPOH: Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the oil price rise and Japan disaster would not have big impact on the Malaysian enonomy.
HIGH CONFIDENCE: Picture shows Husni showing off his skills in decorating cupcakes aided by Chef Syed Redzwan Syed Mohamad (right) from Perak Institute of Technology Instutut Teknologi Perak near Ipoh. The Second Finance Minister says the government will, and has taken measures to ensure continued economic growth amidst the oil price rise and Japan disaster. — Bernama photo.
“Despite this, the government will, and has taken measures to ensure continued economic growth.
“While Malaysia has strong ties with Japan in trade and investment, they are in some sectors only.
“Impact on the sectors has yet to be estimated,” he said after opening Surau Al-Hidayah in Kampung Jelapang Jaya here yesterday.
Husni, also a Tambun Member of Parliament, said Malaysia would still be able to cushion rising oil price following the shutdown of oil fields in Libya.
“We can manage; but if it rises to US$150 per barrel (RM458 per barrel), the world economy will be impacted.
“We hope it does not happen and will focus on efforts to spur internal investments.” The oil price hike would meant that the fuel subsidy of RM10 billion last year had to be increased to RM14 billion.
Nevertheless, Husni said the government had no plans to reduce fuel subsidy as it would hurt the poor.
“We will restructure the economy in other ways so that the poor and those earning less than RM3,000 monthly do not suffer,” he added.—Bernama