KUALA LUMPUR, Nov 26 — The Finance Ministry (MOF) has emphasised that the targeted rationalisation of diesel subsidies starting in June this year is not the main cause of the rise in costs of goods in the manufacturing sector, which led to the decline in the Purchasing Managers’ Index (PMI) in July.
In a written response posted on the Parliament website today, it said the minimal decline recorded from 49.9 points in June to 49.7 points in July could be attributed to various economic risks.
These include factors like weaker external demand, reduced purchasing and inventory activities by firms, as well as supply chain disruptions.
“Based on the manufacturing PMI records for Malaysia in 2023 and 2024, the monthly PMI performance in 2024 can be considered better and more stable compared to 2023,” the MOF said in response to Pendang MP Datuk Awang Hashim's query on the government’s response to the PMI falling below the neutral level.
The highest PMI reading for the manufacturing sector in 2024 was recorded at 50.2 points in May (May 2023: 48.8 points in March and April), while the lowest reading was 48.4 points in March (March 2023: 46.5 points in January).
Meanwhile, in response to Rompin MP Datuk Abdul Khalib Abdullah's question regarding cyber threats to the implementation of e-invoicing, it said the Inland Revenue Board (LHDN) carries out data governance based on industry standards.
“To ensure data security, LHDN is committed to adhering to international standards through certifications such as the Information Security Management System and the Business Continuity Management System, as well as other relevant standards concerning data management and security.
“LHDN also conducts periodic Security Posture Assessments, including collaborating with the National Cyber Security Agency and the National Security Council to ensure the security of the MyInvois system is at the highest level,” the MOF said.
— Bernama
