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Prime Minister Datuk Seri Anwar Ibrahim has announced that there’s no hike in electricity tariff in order not to burden the rakyat.
During the press conference, Anwar said the government admits that if nothing is done, the cost of the country’s finances is quite high as it exceeds RM30 billion a year.
The electricity tariff hike will only apply to multinational companies (MNCs) and conglomerates engaged in exports.
The tariff increase for these companies will happen gradually and reasonably so that operations will not be affected.
Anwar added that the Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad will announce further information regarding the issue.
He also said the current tariffs for MNCs are low and subsidies shouldn’t be given to industry giants which already earned high profits.
The tariff hike will not involve SMEs, agricultural companies, or food companies.
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