GEORGE TOWN, July 8 -- The Penang Water Supply Corporation (PBAPP) plans to delay the implementation of a proposed water tariff increase for at least six months, should it be approved by the federal Cabinet, said Chief Minister Chow Kon Yeow.

Chow, who is also the PBAPP chairman, said the move would cost the state RM40 million.

"We do not want to implement it early next year; we hope to delay it to the middle of next year," he said at a press conference today, after the launch of PBAPP's new RM5 billion Islamic Medium-Term Notes (IMTN) Programme (sukuk).

He explained that this initiative is part of a broader strategy to fund its infrastructure projects, especially those under the Water Contingency Plan 2030 (WCP 2030), without relying ...