KUALA LUMPUR, June 21 — An increase in electricity tariff is inevitable as the cost of generating electricity has increased sharply and quickly, but the needs of certain groups must be considered, economists said.
But measured or gradual action must be put in place to ensure that the low-income groups and micro, small, and medium-sized businesses, already feeling the pinch from rising costs, will not be hit with another price shock should the local electricity tariff be revised. “ has to make sure the business is sustainable , but I hope there will be some form of targeted subsidies for the bottom 40 group with regards electricity tariff,” Ahmed Razman said, suggesting that the government should intervene and provide subsidies for TNB over the short term to ensure end customers are not burdened.
According to Malaysia University of Science and Technology provost for research and Innovation Professor Geoffrey Williams, the proposed tariff increases are unavoidable due to international market factors beyond Malaysia’s control, but passing the cost on to consumers is avoidable, and the cost should be covered by electricity companies, which are seeing higher revenue and profits as economic activities pick up.
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