PRIME Minister Ismail Sabri Yaakob reminded companies and industry players to not raise the prices of goods although their electricity bills will likely increase following the imposition of a surcharge and loss of rebate.

The Bera MP said the expected hike for commercial entities and industries will not be high enough to justify an increase in prices of goods.

“The Domestic Trade and Consumers Affairs Ministry will engage with major companies, so there will not be an increase (in the prices of goods).”

He was commenting on the chance of an increase in the prices of goods after the commercial sector is imposed with a 3.70 sen/kWh surcharge in their electricity bills and loses their 2 sen/kWh rebate.

On the rebate withdrawal, Ismail Sabri said the government has spent more than RM1 billion in subsidies for commercial and industrial companies.

“The subsidy concept is flawed as it is given to larger companies when it should be given to targeted groups. We are in the process of rectifying this.

“That is why, in terms of the changes in electricity tariffs, I said domestic users should not be burdened by hikes… whether small or big houses, B40 or M40, everyone will be spared.”

He said on Monday, the cabinet committee on cost of living will meet to find ways to reduce pressure on rising prices of goods.

For the first time, the Federation of Malaysian Consumers Association and Consumers Association of Penang have been invited to participate in the meeting, he added.  – Bernama, January 29, 2022.