PM reminds commercial sector not to raise prices despite higher electricity bill

 

Ismail Sabri Yaakob today reminded companies and industry players not to raise the prices of goods although their electricity bills are expected to increase following the loss of rebates and the imposition of a surcharge.

The prime minister said he was made to understand that the expected hike for commercial entities and industries will not be that high to justify an increase in prices.

“I have asked the Domestic Trade and Consumers Affairs Ministry to engage with major companies, especially the industries so that there will not be an increase (in the price of goods),” he added.

He told reporters this after presenting the North-East Monsoon Basic Necessities Aid 2021/2022 totalling RM2,500 each to 1,157 household heads from the Bera district affected by the recent floods.

State Public Works, Transport and Health Committee chairperson Norolazali Sulaiman, who is also Guai assemblyperson, was also present.

Flawed subsidy 

The prime minister was asked about the possibility of an increase in the price of goods after commercial and industrial users, besides losing the 2 sen/kWHh rebate given previously, will be imposed a surcharge of 3.70 sen/kWh in their electricity bills.

On the withdrawal of the rebate, Ismail Sabri said the government had spent over RM1 billion in subsidies to industrial and commercial companies before this.

“This subsidy concept is flawed as it is given to larger companies when by right it should be given to targeted groups such as the poor. We are now in the process of rectifying this.

“And that is why, in terms of the changes in the electricity tariffs, I had stressed that domestic users should not be burdened by hikes… regardless whether small or big homes, B40 or M40, everyone will be spared."

The Bera MP said the Cabinet Committee on Cost of Living will meet on Monday to find ways to reduce pressure on rising prices of goods with presentations from the Domestic Trade and Consumers Affairs Ministry, Agriculture and Food Industry Ministry and the Transport Ministry.

Ismail Sabri added that for the first time, the Federation of Malaysian Consumers Association and the Consumers' Association of Penang have been invited to participate in the meeting.

- Bernama