ALOR STAR: Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor today urged Kedahans to be prudent with their expenditure next year as 2023 is expected to bring some challenges.
The federal government had decided to increase the electricity tariff by 20 sen per kw, which may lead to an increase in operational cost for the private sector by up to 40 per cent.
In his New Year message, Sanusi said the electricity tariff hike for the private sector would have a huge impact on the economy, which may burden the people.
"The federal government's recent decision to increase the electricity tariff (20 sen per kw) in the commercial and industrial sector will increase the operating cost for companies and the cost of consumer goods, which may go up by 40 per cent.
"This will have a great impact on the economy, which will burden the people.
"To face the difficulties ahead, let's all take cost-effective measures, plan our expenses wisely and pray that Allah will ease our lives and protect us from harm."
Sanusi urged the people to cultivate patience and resilience to navigate what is expected to be an economically challenging year.
"According to economic experts, 2023 will bring more challenges. The economic situation is expected to be not conducive. The global community will be tested by a heavy crisis.
"Let us strengthen our commitment to face these challenges with resilience and patience.
"Let's also strengthen our resilience in the right way, with strategic efforts and getting closer to Allah."
He said he was optimistic about the state's economic progress next year as exciting projects would commence for the benefit of the people of Kedah.
"In 2023, InsyaAllah, we will see more developments. The Kedah Aerotropolis mega project, which includes the Kulim International Airport, has a new investor.
"The Kedah Aerotropolis, which includes the Sidam Logistics, Aerospace and Manufacturing Hub, will become an operations hub for the MRO (maintenance, repair and overhaul) industry for the Southeast Asia region.
"In 2023, the Integrated Gas Supply and Power Plant Development Project and the ship-to-ship transfer hub in Pulau Bunting, Yan, with a development value of about RM14 billion, will also begin.
"We believe these projects will boost the state's economy and create jobs for the people of Kedah."
Reflecting on his administration's achievements in 2022, Sanusi said efforts to attract more investors to the state exceeded expectations and this would be pivotal for the state's economic longevity.
"We have been blessed by Allah to receive major investments from within and outside the country. Receiving RM68.3 billion in 2021 and RM9.7 billion in the first half of 2022 in a global economic environment that is still recovering was beyond expectation.
"This reflects investors' confidence in the administration of Kedah. This is important for the sustainability of the state's economy in the long term."