Malaysian Iron and Steel Sector Warns of Increased Power Tariffs' Impact on Industry
The Malaysian Iron and Steel Industry Federation (Misif) has expressed concerns over the proposed increase in base electricity tariffs, citing potential adverse effects on the industry. With the planned hike, the sector may face additional financial burdens, potentially impacting production costs and competitiveness in the market. As the industry continues to grapple with existing challenges, the increased power tariffs could further strain the sector, affecting its ability to maintain sustainability and growth. The federation's concerns highlight the need for a balanced approach to energy pricing, taking into account the industry's requirements and the overall economic landscape. Key factors such as energy efficiency, cost management, and industry support will be crucial in mitigating the impact of the tariff increase. With the iron and steel sector being a significant contributor to the country's economy, it is essential to ensure that the industry remains competitive and resilient in the face of rising energy costs.