THE government is taking a cautious approach to the latest global developments, especially on the issue of food supply and rising food prices, which have affected the well-being of Malaysians, Prime Minister Ismail Sabri Yaakob said.

To address the economic crisis due to the pandemic and the Russia-Ukraine conflict, he said the government has formulated short-, medium- and long-term measures to stabilise food supplies and prices.

Ismail said Malaysia, the Asian region and other parts of the world were not spared from the impact of the crisis, adding that the global supply chain was also affected, resulting in food prices to rise by more than 30% worldwide.

Through the short-term measures, he said the government has announced the lifting of the approved permit (AP) requirement to import foodstuff and imposed a ban on the export of chicken.

“(In addition,) the government is channelling financial assistance directly to the people, especially the B40 group, starting July 1, establishing the Agrofood Fund with an allocation of RM500 million through soft loans to industry players and creating buffer stocks for chicken, meat and fish to ensure adequate food supply,” he said.

He said this in his congratulatory speech at the investiture ceremony of federal awards and honours in conjunction with the official birthday of Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah at Istana Negara today. – Bernama, June 6, 2022.