While Malaysia continues its fuel price subsidy, its ASEAN neighbours are taking measures to reduce fuel consumption. These include working from home, shifting to a four-day work week and car pooling.
This comes in anticipation of an oil price shock following the war on the Islamic republic of Iran by the US and Israel, now in its eighth day. The Financial Times reports some 700 million people in ASEAN are dependant on oil imported from the Middle East, including the manufacturing sector.
Government officials in the Philippines are called upon to limit travel to official functions, part of measures to conserve energy. This was announced by the Presidential office, following another announcement ordering many offices to shift operations to a four-day work week.
In Thailand, government personnel have been directed to work from home while in Vietnam, remote working is now encouraged, with those needing to travel asked to car pool or cycle. Meanwhile, Indonesia is looking to increase the quantum of fuel subsidies.
Indonesia, which subsidises fuel prices, is seen by analysts as the most at risk due to President Prabowo Subianto’s expensive social welfare policies, reports The Financial Times. Sustained higher oil prices could widen budget deficits and add to inflationary pressure.
Speaking to news agency Reuters, Indonesia’s Finance minister Purbaya Yudhi Sadewa said the budget for fuel subsidies would be increased. “After a month, we can better predict where oil prices are going and we can decide appropriate policy,” said Purbaya. “We’re smart enough. Any adjustment we do will not disrupt economic growth.”
There are reports of panic buying of fuel in parts of the Philippines, Indonesia, Thailand and Vietnam. Thailand has 95 days of fuel reserves while Indonesia is reported to have enough fuel supply for 25 days, and Malaysia has announced it has a 60-day reserve with fuel subsidies to continue.
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malaysian workers look with envy at neighbours 4 day workweek. sorry i forgot , many m malaysians also work 4.5 days a week and 11 months a year.
Now for a conspiracy theory….
This war was started to raise fuel prices for people to start converting to use Electric Vehicles being the ultimate objective.
Anyway, if only Malaysia will make mandatory rule for work from home.
But it would drastically cause property prices especially in bigger cities like Kuala Lumpur to suffer worst.
How does your power plant generates electricity? Mainly relies on Fossil Fuel and Coal LOL
Fire Madani and malaysians will also enjoy four day work week.
you’re so sick & so tired until your own brain got fired..
You forgot to add daily business hour opens at 9am to 12pm then closed later reopens at 3pm to 6pm. KEK
here where care, type c bosses will force all their workers masuk office anyway
because all malaysian workers still enjoy budi95 which at RM 1.99 is even cheaper than the price of petrol in Saudi Arabia today, so whats the workers excuse to not come into office?
Nobody force you to work for type c if you’re so damn unhappy. Better you let others take your place.