Kota Kinabalu: Sabah State Assembly Backbenchers have urged the government to prepare an immediate action plan to address global economic impacts following escalating tensions in the Middle East.
Its chairman Datuk Masiung Banah
(pic) said the Federal Government should already have outlined short- and medium-term measures in response to the sharp rise in global crude oil prices.
He said when oil prices surge, the cost of essential goods, including food, will inevitably increase.
Masiung said geopolitical tensions involving the United States, Israel and Iran had disrupted key global trade routes in the Strait of Hormuz, potentially triggering inflationary pressures and raising the cost of living.
The Kuamut assemblyman urged the Finance Ministry and Economy Ministry to implement appropriate fiscal measures to cushion the impact should the conflict continue.
