FMM: Maintain electricity tariff, let Socso handle EIS funds


Dateline 2018-06-18, The Sun Daily:

The Federation of Malaysian Manufacturers (FMM) is urging the government to maintain electricity tariffs until Dec 31, 2020 and accord the Social Security Organisation (Socso) with the responsibility of managing funds collected under the Employment Insurance System (EIS), which is now under review.

Last week, Gas Malaysia Bhd announced that the average effective natural gas tariff for the non-power sector in Peninsular Malaysia will be increased by 17 sen or 0.5% to RM32.69/MMBtu for the period of July 1 to Dec 31, 2018 from RM32.52/MMBtu for the period of Jan 1 to June 30, 2018. The move has kindled concerns that electricity tariff rates will be hiked.

“While FMM is steadfast in its commitment towards energy subsidy rationalisation and although the 0.5% increase is lower than the previous period’s 22.97%, it is nevertheless still an increase in energy costs,” it said in a statement today.

Following that, FMM hopes that the new government will uphold the past Cabinet’s decision, announced on December 26, 2017, to maintain current electricity tariff rates in Peninsular Malaysia for Jan 1, 2018 up to Dec 31, 2020, in a bid to help relieve the energy cost burden on the manufacturing sector as well as to benefit the rakyat as household consumers.

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