Kuala Lumpur, June 25, 2022 – The Federation of Malaysian Manufacturers (FMM) welcomes Government’s decision not to pass through a higher surcharge rate to consumers despite the sharp increase in fuel and other electricity generation costs.
FMM is pleased that the Government had positively considered its call for assistance to help curb one of the industries’ major operational input costs i.e. 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.
FMM hopes that Government would continue to engage the industry should there be any potential higher ICPT surcharge in the future given the uncertainty in the global market and volatility of energy prices.
DOWNLOAD PRESS STATEMENT
Tan Sri Dato’ Soh Thian Lai
President, Federation of Malaysian Manufacturers
FMM Advocates Transparency, Integrity and No Corruption
About FMM
The Federation of Malaysian Manufacturers (FMM) has been the voice of the Malaysian manufacturing sector since 1968. Representing over 11,500 member companies (3,500 direct and 8,000 indirect) from the manufacturing supply chain, FMM is actively engaged with government and its key agencies at Federal, State and local levels. FMM is also well-linked with international organisations, Malaysian businesses and civil society. Apart from benefitting from FMM’s advocacy, FMM members enjoy value-add services, including training, business networking and trade opportunities as well as regular information updates.
Media Enquiries
Han Mong Ying, Senior Manager, Corporate Affairs Tel: 03-6286 7200 Email: webmaster@fmm.org.my