The reduction in the Imbalance Cost Pass-Through for commercial and industrial users will help businesses cushion the anticipated increase in input costs due to the rationalisation of diesel and rising wages, said the Small and Medium Enterprises Association of Malaysia .
The ministry stated that the targeted electricity subsidy borne by the government from July to December amounts to RM2.19 billion. “It must also ensure its operations, including headcount and other operating expenditures, are lean and supportive of the national agenda. As such, the ICPT must be removed, otherwise, Tenaga Nasional must be held accountable to the public and industry, reporting on its transition and capital expenditure to ensure it meets its targets,” Ng told Bernama.
“Industries continue to operate in a challenging environment as uncertainties surrounding economic growth and the inflation outlook in 2024 remain a concern, following the impact of subsidy rationalisation and prolonged geopolitical conflicts,” he said.
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