Prime Minister Anwar Ibrahim addresses concerns over potential electricity tariff hikes, assuring businesses and low-income households of continued support.
Prime Minister Datuk Seri Anwar Ibrahim has provided assurances that any impending increase in electricity tariffs will not unduly burden the business sector. Furthermore, he stated that 85% of Malaysian households will maintain their eligibility for electricity subsidies. Anwar, who concurrently serves as the Finance Minister, emphasized that any adjustments to electricity tariffs slated for the second half of 2025 will not impose an excessive financial strain on businesses.
During his address at the Chinese New Year celebration hosted by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) today, he also highlighted that low-income households will remain exempt from the impacts of the scheduled tariff review during that period. The basic electricity tariff in Malaysia is determined by the Energy Commission under the Incentive-Based Regulation (IBR) framework and undergoes a triennial review. Complementing the basic tariff is the Imbalance Cost Pass-Through (ICPT) mechanism, which is subject to a bi-annual review.
ELECTRICITY TARIFFS SUBSIDIES BUSINESSES HOUSEHOLDS ANWAR IBRAHIM
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anwar Ibrahim Assures No Tariff Burden on BusinessesPrime Minister Anwar Ibrahim assured that any increase in electricity tariffs will not burden the business community, stating that 85% of households will continue to receive subsidies. He emphasized that low-income households will remain unaffected by the scheduled tariff review in the second half of 2025.
Read more »
Transport Ministry proposes special electricity tariff to ease public transport operators’ burdenKUALA LUMPUR, Jan 7 — The Transport Ministry (MOT) is proposing a special electricity tariff for the public transport sector to ease the financial burden on operators. Minister...
Read more »
Trump’s tariff plans could fuel trade wars and raise import costs for US businessesWASHINGTON, Jan 14 — Donald Trump’s second presidential term promises a return to tariffs as he pressures partners and rivals to tackle everything from migration to drug...
Read more »
Tax Break for Caregiving Leave: Boon or Burden for Malaysian Businesses?A new tax incentive in Malaysia offers a 50% deduction to companies providing up to one year of paid leave for employees caring for sick loved ones. The benefit is intended to boost employee loyalty and well-being but has raised concerns among SMEs about financial implications and operational challenges.
Read more »
Govt Heeds Residents’ Concerns on Mutiara LRT: AnwarPM Anwar assures serious attention to residents’ concerns regarding the Mutiara LRT line project.
Read more »
ACCCIM Sees Cautious Optimism for Malaysia's 2025 Economy, Calls for Pragmatic Government SupportThe Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) forecasts challenges for businesses in 2025, despite a positive outlook for investment. High operating costs, cash flow issues, and rising raw material prices are key concerns. ACCCIM president Datuk Ng Yih Pyng urges the government to implement pragmatic policies supporting businesses, particularly SMEs, including export credit schemes, reduced import duties, and assistance in exploring new export markets. While acknowledging the need for economic and subsidy reforms, Ng expresses concern over the proposed 14.2% electricity tariff hike for Peninsular Malaysia, urging its postponement to ease financial burdens on businesses and mitigate inflationary pressures.
Read more »