Jul 4, 2009

Is Petronas profit robbed?


Over the past three decades since Petronas was set up, the national oil company has contributed RM426.6 billion to be exact, almost half a trillion ringgit to the government's coffers.

But where has all the money gone to? That's what former premier Dr Mahathir Mohamad wants to know. Now after the truth reveal by Mahathir, each Malaysian eager to know what really happened to the big sum of money? In his latest blog posting, Mahathir said he is extremely interested to find out how the billions and billions of ringgit had been spent.

According to Mahathir, during his 22 years at the helm between 1981 and 2003, Petronas paid RM168.8 billion to the government. However, that figure jump dramatically in recent years due to the sharp hike in global oil prices. So Anwar was right that our nation is richer when the world fuel price rise.

Now, this revelation will be the new issue for the Malaysian, undeniably Najib is too under pressure. He needs to make publicly the money that he is spending for each project and plan.


Ramesh (Facebook) said...

Petronas seems to be a financial for Bumiputra not a budget for all Malaysian, the few examples are as follows:

1.the allocation of RM2 billion to Yayasan Amanah Hartanah Bumiputra to purchase commercial properties, especially in major towns. This will benefit the Bumiputra crony companies;

2.The establishment of RM1 billion fund for Export Import Bank Malaysia (EXIM) to assist and encourage Bumiputra entrepreneurs to venture abroad. This will also benefit the Bumiputra crony companies;

3.A total fund of RM3.6 billion allocated to construct quarters for government servants and uniformed personnel. The construction work will mainly be undertaken by Bumiputra small local contractors; and

4.A total fund of RM5.7 billion is allocated to improve the economy and infrastructure of the rural area. To implement the projects under this head, local small Bumiputra contractors will be appointed.

joshua said...

Mahathir always points his finger at everyone except himself.

vasantarao appalasamy said...

This man always find mistakes of hi successor Badawi... Since the day Badawi has cancelled the JB-Singapore third link project, he keeps on attacking Badawi although he is not the premiership…

Anonymous said...

this is not new in Malaysia ma..