The Malaysia Chinese Assembly Hall (MCAH) has called on the government to carefully reconsider plans to increase electricity tariffs, warning that any adjustment could significantly impact the livelihoods of Malaysians and disrupt the economic ecosystem.
Although Prime Minister Datuk Seri Anwar Ibrahim has emphasized that the hike will only target high-income groups, such as the ultra-wealthy and highly profitable industries, the ripple effect is inevitable. Rising electricity costs for businesses are likely to be passed on to consumers, indirectly burdening lower-income groups.
MCAH also highlighted that medical insurance premiums are set to rise next year. While Bank Negara Malaysia has intervened to cap annual premium increases at 10% until 2026, this measure is merely a temporary relief and does not address broader inflationary pressures. Coupled with the looming threat of electricity tariff hikes, the burden on the rakyat is expected to grow.
According to Tenaga Nasional Berhad (TNB), the 4th Regulatory Period (RP4) is set to begin on July 1, 2024, with an average base tariff rate of 45.62 sen per kWh proposed as the new standard.
MCAH President, Datuk Seri Dr KK Chai, in his 2025 New Year message, expressed confidence that the government under Anwar’s leadership would ensure that residential electricity tariffs for ordinary citizens remain unchanged. However, he cautioned that higher commercial electricity costs would inevitably lead businesses to pass on the additional expenses to consumers, ultimately straining household finances.
Dr KK Chai also lauded the Unity Government’s significant strides in bolstering the nation’s economy under the leadership of Prime Minister Datuk Seri Anwar Ibrahim. He noted that these achievements have laid a solid foundation for the country’s long-term prosperity and the well-being of its people.
In his Facebook post titled “Sorotan 2024: Melonjak Ekonomi, Melimpah Kemakmuran”, the Prime Minister highlighted groundbreaking progress in digital economy, green energy, and high-tech manufacturing sectors. From January to September 2024, the nation recorded RM254.7 billion in digital economy investments, expected to generate 159,000 new jobs.
He said, the government’s proactive promotion of public-private partnerships aims to contribute RM82 billion to GDP and create 900,000 new jobs by 2030. Investments totaling RM34.6 billion in the semiconductor sector underscore the government’s dedication to fostering sustainable economic growth.
MCAH urged the government to be more attuned to the voices of the people and ensure policies are inclusive and grounded in the realities faced by ordinary Malaysians. Under Datuk Seri Anwar’s leadership, we remain confident that Malaysia will continue to progress toward greater prosperity. Let us work together to build a brighter future for all.