Posted on 22 Jul 2025
The Ministry of Investment, Trade and Industry (MITI) will roll out a roadmap to enhance the long-term resilience of Malaysia’s iron and steel sector, following the final report submission by the Independent Steel Committee (ISC).
Deputy Minister Liew Chin Tong, who chaired the Malaysian Steel Council (MSC) meeting on behalf of the minister, said the roadmap will incorporate key recommendations from the ISC’s findings. “This is the first MSC meeting since MITI received the ISC’s final report,” he said in a statement today.
The Federation of Malaysian Iron and Steel Industry (MISIF) and the Malaysian Steel Association (MSA) expressed appreciation and agreement with the report’s recommendations, including proposals to strengthen the Malaysian Steel Institute.
Present at the meeting were MITI Deputy Secretary-General (Industry) Datuk Hanafi Sakri, MISIF President Roshan M Abdullah, MSA Deputy President Datuk Seri Tai Hean Leng, ISC Chairman and HSBC Malaysia CEO Datuk Omar Siddiq.
Among the initiatives highlighted by Liew was the implementation of a carbon tax for the iron and steel industry starting in 2026, in collaboration with the Ministry of Finance, as previously announced under Budget 2025.
The MSC meeting also included briefings from the Royal Malaysia Police and the Malaysian Anti-Corruption Commission (MACC) on ongoing enforcement operations, Op Padu 1.0, Op Padu 2.0 and Ops Metal, targeting substandard steel products and the smuggling of scrap metal.
“These enforcement efforts are vital in safeguarding industry integrity and promoting fair competition,” Liew added, noting MITI’s continued commitment to driving both economic and environmental sustainability across Malaysia’s steel sector.
Source:BusinessToday Malaysia
