KUALA LUMPUR: The Malaysian Iron and Steel Industry Federation (MISIF) has recommended that the Independent Steel Committee's (ISC) report, along with its recommendations and proposals, be made accessible to the public.
According to MISIF, this transparency would provide stakeholders with valuable insights, empowering them to make informed and strategic decisions that align with the broader industry objectives set by the Investment, Trade and Industry MInistry.
"The MISIF acknowledges the ministry's efforts under the leadership of Tengku Datuk Seri Utama Zafrul Aziz Tengku Aziz in fostering a fair and sustainable iron and steel industry in Malaysia.
"MISIF also sincerely appreciates the efforts of the ISC, chaired by HSBC Bank Malaysia chief executive officer Datuk Omar Siddiq, in conducting comprehensive stakeholder consultations to examine the sector's challenges and aspirations and for presenting its findings to the ministry," it said.
MISIF said it recognises the importance of aligning the iron and steel industry with the objectives of the New Industrial Master Plan 2030 (NIMP 2030) to ensure economic sustainability, environmental compliance and a meaningful contribution to Malaysia's industrial transformation.
"To further these goals, MISIF respectfully recommends that the Independent Committee's report, including its recommendations and proposals, be made publicly available.
"MISIF remains steadfast in its commitment to partnering with the government to build a more sustainable, dynamic, and internationally competitive iron and steel industry for Malaysia's economic growth," it added.
Last Friday, the ISC - which was formed by the ministry in January 2024 - completed its consultations with various stakeholders about the industry's current challenges and future aspirations and presented its findings to the ministry for further action.
"The submission of the report by ISC chairman Datuk Omar Siddiq, signifies that the ISC has completed its task of conducting extensive consultations with various stakeholders on the current state and future aspirations of Malaysia's iron and steel industry," the statement said.
Tengku Zafrul, in a statement, said the ministry appreciated the efforts of the ISC in providing several thoughtful recommendations to align the direction of this industry with the missions of NIMP 2030.
"These recommendations are essential to ensure the economic sustainability and environmental compliance of the sector.
"The direction of various industries also needs to be aligned with the aspirations and objectives of the Madani Economic Framework, and the ministry aims to consider all the submitted recommendations to drive the transformation of Malaysia's industries," he added.