Govt To Study Proposals From Malaysian Plastics Manufacturers Association - Akmal Nasrullah
KUALA LUMPUR, July 13 (Bernama) -- The National Economic Action Council (NEAC) has taken note of several proposals submitted by the Malaysian Plastics Manufacturers Association (MPMA) and has decided that the Ministry of Investment, Trade and Industry (MITI) and the Economy Ministry should examine them.
Economy Minister Akmal Nasrullah Mohd Nasir said the government takes a serious view on the issue on the challenges faced by the plastics industry following global supply chain pressures and rising raw material costs.
The NEAC meeting had heard a presentation from the MPMA where the latter presented its views on several cost structure and competitiveness issues faced by downstream manufacturers, including the difference in raw material costs compared to competing countries.
“This is to take into account the interests of the entire industrial chain, fiscal balance and the country's economic competitiveness in the long term,” Akmal Nasrullah said in a Global Supply Crisis briefing on the ministry’s Facebook page today.
He said the plastics industry was a supporting industry for many sectors and in 2025 its sales value amounted to RM62.69 billion, compared to RM64.78 billion in 2024.
“Packaging represents 45 per cent of the market, while electrical and electronics represent 29 per cent,” he said.
He also said the proposed implementation of Extended Producer Responsibility (EPR) on a voluntary basis would also be examined along with the cost implications, capacity of small and medium enterprises and the readiness of recycling infrastructure.
If implemented well, the circular economy could increase the use of recycled materials, reduce dependence on raw materials and build a domestic supply source that is more resilient to geopolitical shocks, he said.
Meanwhile, he said the government is confident that the country's economic growth momentum can be maintained and the growth target of 4.0 to 5.0 per cent can be achieved for this year based on current performance.
He said economic indicators for the first half of this year showed that the country's fundamentals remained strong and resilient.
“Malaysia’s economy grew by 5.4 per cent in the first quarter of 2026, supported by domestic demand, the services and manufacturing sectors, as well as electrical and electronics exports which remained resilient.
“The preliminary estimate of the Gross Domestic Product (GDP) for the second quarter of 2026 will be announced on July 17, while the official figure will be published on Aug 14, 2026,” he said.
“Inflation in May 2026 remained under control at 2.0 per cent, compared to 1.9 per cent in April, while trade performance also increased by 18.3 per cent to almost RM1.5 trillion from January to May 2026.
“Exports grew by 24.3 per cent to RM793.8 billion, imports increased by 11.8 per cent to RM661.1 billion and the trade surplus amounted to RM132.8 billion,” he added.
-- BERNAMA