PUTRAJAYA, May 31 (Bernama) -- Deputy Prime Minister Tan Sri Muhyiddin Yassin Tuesday reminded traders and businesses not to increase prices of goods following the new electricity tariff effective Wednesday.
Describing the tariff hike as reasonable and one that would not burden the people, he said it should not be an excuse for manufacturers, retailers and traders to gain extra profit.
"There shouldn't be an increase in the prices of consumer goods. The industrial sector and some businesses may be affected, and it's only a seven per cent increase," he told reporters after launching the 10th anniversary celebration of the Energy Commission of Malaysia and opening the Diamond Building here.
Muhyiddin ordered the Domestic Trade, Cooperatives and Consumerism Ministry to closely monitor the prices of basic necessities towards ensuring that they were not increased indiscriminately.
The deputy prime minister said the government had made a careful study and factored in the interest of all people before announcing the tariff revision.
Muhyiddin said the government had looked in depth possible implications of the new power rate on the cost of living, inflation rate and prices of goods.
The deputy prime minister said he was heartened by the attitude of certain traders who were receptive to the electricity tariff hike.
The government yesterday announced that from tomorrow, consumers would pay 33.54 sen per kilowatt hour (kWh) for electricity from 31.31 sen, an increase of 2.23 sen per kWh or 7.12 per cent.
However, the new rate will not affect 75 per cent of domestic users whose consumption is less than 300 kWh per month.
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