WECAM CALLS FOR THE SETTING UP OF ENERGY PRICE STABILISATION FUND

KUALA LUMPUR, June 21 (Bernama) -- The government should set up an energy
price stabilising fund to cushion off price hikes in oil and gas, the Water and
Energy Consumers Association of Malaysia (WECAM) said Monday.

Its Secretary General, S. Piarapakaran said the fund would also be effective
in allowing the government to abolish subsidies in the energy sector.

He told Bernama that once the prices were stabilised, it would be easier for
the government to improve the planning, harnessing and sustaining of energy
resources in the country.

He felt that the government should amalgamate all organisations dealing with
energy and place it under the Malaysian Energy Commission (MEC).

"We would like the MEC to be the sole regulator of energy resources in the
country," he said.

He urged the government not to go ahead with its plan to set up a Renewable
Energy Development Authority as it would overlap with the MEC's functions.

The government had intentions to set up such a body under the 10th Malaysia
Plan announced recently.
-- BERNAMA