The Prime Minister of Malaysia just cancelled the floating of chicken price, and maintained water and electricity power rates!
Here is what you need to know…
Earlier : Malaysia Removes Price Control + Subsidy For Chicken!
On 21 June 2022, Malaysia’s Domestic Trade and Consumer Affairs (KPDNHEP) Minister Alexander Nanta Linggi, announced that price control for chicken and chicken eggs, as well as subsidies for palm oil used for cooking will be removed.
From 1 July 2022 onwards, the price of chicken was supposed to be floated, and would depend on market forces. The price of chicken was expected to increase from RM8.90 per kg currently, to about RM11.90 per kg, once its price was floated.
The government needed to remove the price control on chickens because they would stop giving subsidies to poultry farmers on 1 July 2022 as well.
Now : Malaysia Cancels Chicken Price Float, Maintains Water + Power Rates!
Just 3 days later, the Prime Minister of Malaysia announced a U-turn on removing price control on chickens.
At 5:45 PM on 24 June 2022, the Prime Minister of Malaysia Ismail Sabri announced that the government has cancelled the floating of chicken price, and will continue to impose a price ceiling.
However, this does not mean the chicken price will remain at its current ceiling prices of :
- Standard whole chicken : RM 8.90 per kg
- Super whole chicken (without legs, head, liver and gizzard) : RM 9.90 per kg
According to his official statement, the government will announce the new ceiling price for chicken later.
He also announced that the government has decided to maintain the current water and electricity tariffs in Peninsular Malaysia, by continuing to provide subsidies worth approximately RM 5.8 billion.
- Domestic users : A rebate of 2 sen per kW-hour will be maintained, with no surcharge.
- Commercial and industrial users : A surcharge of 3.70 sen per kW-hour will be maintained.
This is good news for domestic users, but not so good news for commercial and industrial users who have to put up with the surcharge.
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