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Manufacturers cautious about possible gas tariff hikes

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) is mindful about the effect of conceivable combined gas value climbs by end of 2019 because of the unverifiable worldwide economy in the following couple of years. 

The business gather had on Friday issued an announcement taking after the declaration by the Energy Commission about the common gas (NG) levy refund of 40 sen for each mmBtu from January to June 2017. 

The FMM said while it respected the discount it was worried about a conceivable total gas cost increment of 22.6% by end of 2019. 

On Thursday, Gas Malaysia Bhd said the Energy Commission had endorsed the Normal base levies for the administrative period from January 2017 to end-2019. This would see the normal base NG tax to be RM32.74 per mmBtu by 2019 from RM26.71 per mmBtu in January 2017. 

"FMM perceives that the gas cost go through (GCPT) system is set up and that the normal base tax, which considers the expansion in volume of LNG import and outside trade changes, would be balanced by GCPT declaration for the significant period. 

"In any case, FMM is confident that the legislature would keep on considering ventures aggressiveness versus local rivals in the vitality endowment legitimization and the proposed move to market cost and to persistently evaluate the effect of value audits against the predominant financial and economic situations. 

"FMM would keep on advocating for a reasonable valuing of normal gas, specifically for the privately sourced funneled gas, and look for further engagement with the administration to get further clarity on the premise of the normal base duty assurance for the following three years," said the exchange body.

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Manufacturers cautious about possible gas tariff hikes


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