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Based on the report by the National Action Council on Cost of Living on Tuesday, we decided that the earlier proposal to increase the electricity tariff will not proceed as this will burden the rakyat (citizens). We acknowledged that if nothing is done, there will be a negative impact on government finance which is quite high, exceeding some RM30 billion next year. So, only multinational companies and large companies that export products will be charged.
As what I explained in the previous (parliamentary) session, although it was a decision made by the previous government, to increase electricity tariff, the government now has withdrawn the suggestion and will only impose that on the T20 (top 20 income group) that are the multinational corporations (MNC) and other big companies, unless they are companies that are involved in food security.
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