The Global Supply Crisis Monitoring Dashboard will be accessible from May 15, offering public transparency on energy, commodities and trade trends.
KUALA LUMPUR: The Global Supply Crisis Monitoring Dashboard, jointly developed by the Ministry of Economy and the Department of Statistics Malaysia, is expected to be accessible to the public from May 15, said Economy Minister Akmal Nasrullah Mohd Nasir (pic).
He said the dashboard is intended to serve as a transparent and easily accessible central reference point for the public to monitor current developments related to the global supply crisis.
“The public-facing dashboard comprises 10 main submenus, including energy, commodities, cost of living, economic performance, foreign exchange rates and trade flows,” he said during the Global Supply Crisis Briefing today.
At the same time, he said the government’s dedicated version would be used as an internal monitoring platform to assess crisis developments, identify early risks, and formulate mitigation strategies and actions in a more structured manner based on near real-time data.
He said the initiative marks an important shift in how the government manages crises by using near real-time data to detect early pressures, coordinate responses and provide clearer information to the public.
Akmal Nasrullah also said the government welcomed the World Bank’s recommendation on four priorities for Malaysia, namely ensuring energy security, strengthening fiscal space, managing energy demand and targeting support to households and businesses genuinely affected.
He said this aligns with the government’s decisions through initiatives currently at various stages of implementation, as the approach also emphasises the importance of ensuring smooth supplies of critical goods and supply chain financing for vulnerable firms.
“… the World Bank’s view is that global pressures are layered. Rising global prices of oil, fertiliser and food have different but interconnected impacts. Based on the World Bank’s assessment, these developments indicate that price pressures remain concentrated on key commodities, with spillover effects on production costs and the cost of living.
“Therefore, policy responses must take into account the direct impact on the people as well as the knock-on effects on businesses and supply,” he said.
As such, he said the government is focused on securing supply, extending the resilience of existing supply and curbing price pressures, with efforts underway to coordinate export controls on certain fuels, ensure the supply of essential goods, manage purchase quotas, promote energy conservation and strengthen close cooperation with industry players.
He said any policy adjustments would be implemented carefully, in a targeted and temporary manner, with priority given to protecting the people, ensuring supply stability and managing the country’s fiscal position responsibly.
“The National Economic Action Council will continue to update the status of energy and fuel supplies from time to time to ensure domestic needs remain prioritised, while boosting industry confidence in operational continuity and the sustainability of the country’s economic activities,” he said.
