KUALA LUMPUR — Warning of mass layoffs in the small and medium enterprise (SME) sector, Perikatan Nasional (PN) Chairman Datuk Seri Ahmad Samsuri Mokhtar said Malaysia must take a non-partisan approach to dealing with the economic impact from the US-Israel war on Iran.
He proposed a national consultation and intervention council formed by the government, the opposition, non-governmental organisations (NGOs), academics, industry leaders, and civil society.
“In the coming months, our nation faces the stark probability of rising prices for basic goods and food, increased transportation and utility costs, and perhaps most significantly, severe pressure on our labour market,” Samsuri said in a statement.
“Without decisive action, we risk a wave of workforce reductions,” Samsuri said, noting that this could particulary affect the manufacturing, logistics, and SME sectors which are most vulnerable to the rising costs of raw materials.”
The “ripple effect” from the current geopolitical crisis is unavoidable, the Terengganu Menteri Besar added, noting that energy prices and supply chains have already been affected.
“Malaysia needs a non-partisan approach that prioritises national interest over party politics,” he said.
The proposed council should serve as an inclusive forum involving every stakeholder to ensure policy decisions reflect a collective will, rather than partisan interests.
Samsuri argued that the nation cannot afford to be divided by party lines when economic stability and public welfare are at stake.
The US and Israel began striking Iran on February 28, and Iran has retaliated by targets in Israel, US bases in the Gulf and oil infrastructure in some Gulf states. Three weeks into the war, Brent crude is currently trading above US$110 per barrel, impacted by Iran’s closure of the Strait of Hormuz, which is passage to about a quarter of global oil supply. — March 22, 2026