Margma has taken a swipe at Gas Malaysia Bhd for the sudden increase in natural gas price, saying Malaysia stands to lose an estimated RM47.2 million foreign revenue in the next three months. — AFP pic
Lau lamented that the three-day notice released last Friday evening for gas tariff hike which is to take effect on Monday, “is as good as no notice given.” “Margma estimates that the natural gas price hike this round will lead to an increase in production cost of US$0.30 to US$0.80 per 1000pcs of nitrile gloves and about US$0.35 to US$0.85 for latex glove,” Lau said.
“When natural gas is used to benefit Malaysian industries, tens of thousands of jobs can be created locally and eventually the country would benefit the most through the multiple levels of taxes, job opportunities and a better use of our natural resources. We should seize the gift from heaven and multiply its inherent worth,” Lau added.
According to the Energy Commission’s website, the TPA will allow any party to have access to, and utilise the gas facilities available in Malaysia on the same terms and conditions as other parties for similar utilisation.
Ahhh...must have hit the right spot to provoke such vulgar reaction!!
Some people read headlines only...it’s not about the increase but the short notice. It is not clever as the cost could have been passed on to buyers instead of the industry having to absorb it! Some so called analyst!!
Jokers, gas cost is only abt 10% of cost. A 5% increase in gas price raises total cost by 0.5%. if you can't remain competitive because of 0.5% increase in cost, you my as well close shop. c.c. khalidkarim
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