00:00Ladies and gentlemen, the process of economy and subsidy reform must be gradual to avoid
00:11disruption to market and businesses. Of particular concern is that TNB has announced that the
00:19base electricity tariff for Peninsular Malaysia will be raised by 14.2% under the Regulatory
00:27Period 4 between 2025 and 2027 and it is proposed to be implemented starting 1 July 2025.
00:38The rise in electricity costs will have domino effects on the whole supply chain, potentially
00:45passing through onto consumer inflation. Given the bunching of additional operating costs,
00:52we sincerely urge the Government to maintain electricity tariff at current level throughout
01:002025 and 2026. This is to ease the financial burden on business and mitigate inflationary
01:08pressures from the increased operating costs.
01:10Now, you raised two points, but I think there is some confusion. The first is on the issue
01:17of ICPT, the transfer of the electricity rate. It is not 14%. No. The six-month review
01:25is based on the current price, so I don't think it would be, to a large extent, cumbersome
01:36or a disadvantage to the community. But we are prepared to listen. The decision is to
01:41make something which needs to be done because prices have to rise according to the capacity
01:49in the price at that particular period. But certainly it is not to be. That is why I just
01:54checked with Zafrul in case I get the facts wrong. Certainly it is not the case. I think
01:58there was some confusion because of the way the announcements were made. But this was
02:02corrected. It is not the case. A slight increase is okay. Otherwise, how do I improve the education
02:14quality? How do I help the poor? How do I improve the roads? How do I then improve the
02:23medical services through some minor tax to the companies? Small, small. Don't worry.
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