When speculation becomes reality, wallets start crying!
Prime Minister Anwar Ibrahim has confirmed the tariff increase that was proposed last year.
Although he stressed that this increase is necessary, he assured that it will not burden consumers and the business community.
In his statement while speaking at the Chinese New Year Ceremony organized by ACCCIM, Anwar stressed that the rate of increase will not be as high as 14.2% as previously proposed.
However, in reality, the basic electricity tariff in the Peninsula will still increase to 45.62 sen/kWh.
For 85% of domestic consumers, the government has promised no increase at least until the middle of this year.
However, what about the business sector?
With this action, the increase in operating costs could trigger a domino effect with the price of goods increasing and inflation possibly soaring.
Is the government’s guarantee enough to calm concerns? Or is this just the beginning before a bigger increase?
