'1MDB's Edra sale may lead to pricier electricity'
The public may have to pay more for electricity, if 1MDB subsidiary Edra Energy is sold to a China-Qatar consortium, warned Pandan MP Rafizi Ramli.
This is because electricity tariffs may be raised through a new power purchase agreement with the international firm, which is offering a high sum for Edra.
Rafizi claims a China-Qatar firm is offering RM10 billion for Edra, RM2 billion more than the alleged RM8 billion asking price.
"When you pay RM2 billion extra, obviously you are going to look to recoup the RM2 billion.
"I fear that this may be done through tariff hikes," Rafizi said at a press conference in the parliament lobby today.
The PKR secretary-general had filed an emergency motion to debate the matter in Parliament.
However, speaker Pandikar Amin Mulia rejected the motion in chambers.
On Monday, Finance Minister II Husni Hanadzlah said the sale of Edra, a local energy firm, completely to foreigners is one an off-exemption to resolve 1MDB's debts.
However, Rafizi warned this could set a bad precedent.
"Foreign investors may want to get around our laws, and the government will give more one- off exemptions," he said.
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