News & Events

FMM Welcomes Government’s Decision to Absorb Fuel Price Increase

Kuala Lumpur – The Federation of Malaysian Manufacturers (FMM) welcomes Government’s decision not to pass through a higher surcharge rate to consumers despite the sharp increase in fuel and other electricity generation costs.

FMM is pleased that the Government had positively considered its call for assistance to help curb one of the industries’ major operational input costs i.e. energy cost. The Government’s decision to absorb the cost of fuel price which amounts to RM5.8 billion and hence maintain the Imbalance Cost Pass-Through (ICPT) surcharge at the current rate as well as to maintain the current water tariff would ease the cost management of utilities during this challenging period.

FMM hopes that Government would continue to engage the industry should there be any potential higher ICPT surcharge in the future given the uncertainty in the global market and volatility of energy prices.