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FMM welcomes govt's decision to maintain the cost of electricity

FMM In The News: NEW STRAITS TIMES, KUALA LUMPUR, Saturday, June 25, 2022 - The Federation of Malaysian Manufacturers (FMM) welcomes the government's decision not to pass through a higher surcharge rate to consumers despite the sharp increase in fuel and other electricity generation costs.

President Tan Sri Soh Thian Lai said FMM is pleased that the government had positively considered its call for assistance to help curb one of the industries' major operational input costs, that is energy cost.

"The government's decision to absorb the cost of fuel price which amounts to RM5.8 billion and hence maintain the Imbalance Cost Pass-Through (ICPT) surcharge at the current rate as well as to maintain the current water tariff would ease the cost management of utilities during this challenging period," he said in a statement today.

FMM hopes that the government would continue to engage industry should there be any potential higher ICPT surcharge in the future given the uncertainty in the global market and volatility of energy prices, Soh added. -- BERNAMA

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