Lawmakers: Delay subsidy rationalisation, power tariff hike
At the Dewan Rakyat special sitting to discuss the impact of US tariffs yesterday, a Penang lawmaker voiced that the state will be the most affected by the move.
Apart from calling for the RON95 subsidy rationalisation postponement, Opposition leader Datuk Seri Hamzah Zainudin said the purchase of 30 Boeing aircraft by Malaysia Aviation Group should be put on hold.
'Postpone the rationalisation of RON95 subsidy, and if possible, let's delay the planned hike in electricity tariff.
'In an uncertain economic situation, we should also postpone the purchase of the 30 Boeing planes. That is our request,' said Hamzah.
The targeted RON95 subsidy was initially scheduled to be rolled out next month, while the hike in electricity tariffs is scheduled to begin in July.
Hamzah urged the government to prioritise food security and for agricultural and food product imports be reduced.
'Priority should be given to our farmers, fishermen, and those in the agriculture sector.
'(US President) Donald Trump has another four years and these four years can affect the food security of the country,' he said.
Penang Chief Minister Chow Kon Yeow told the Dewan Rakyat that RM76bil or 17% of the state's exports are bound for the United States, the nation with the second highest exports from Penang.
'The United States is also one of our main trading partners, with a trade surplus of RM57.7bil last year.
'Therefore, the implementation of the tariffs might give a serious impact on Penang,' said Chow (PH-Batu Kawan).
To mitigate the impact, Penang has formed a tariff monitoring task force and introduced an adaptation toolkit to help exporters and SMEs navigate the evolving trade landscape, he said.
Chow urged the Federal Government to work with state governments to help SMEs in weathering the economic uncertainty.
While commending Malaysia's successful trade talk in Washington DC recently, he pointed out the importance of having a long-term solution to strengthen relations between Malaysia and the United States in trade.
'One of the important steps is to appoint an ambassador to the United States. This is important, not just to represent our interests, but to carry out voices and aspirations to the highest level of leadership in the United States,' he said.
He said it is important for Asean to have a special summit with the United States to voice the regional grouping's economic aspirations.
Datuk Mohd Shahar Abdullah (BN-Paya Besar) urged the government to expedite the announcement of the revised GDP growth so that certain sectors can start making plans to mitigate any potential economic storms.
'I am worried that if we delay this announcement, it will also affect the announcement of the 13th Malaysia Plan, which is slated to be done this year,' he said.
Datuk Seri Jalaluddin Alias (BN-Jelebu) said Malaysia must strengthen trade diplomacy through more bilateral trade agreements.
'This will strengthen long-term competitiveness,' he said.
Meanwhile, Ahmad Fadhli Shaari (PN-Pasir Mas) criticised Economy Minister Datuk Seri Rafizi Ramli for taking leave amidst a global trade war.
'We should call the Economy Minister back. It is illogical to approve his leave.
'We are on the brink of a war. (There could be) an economic war and we gave the minister leave for a month?' he said.
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