Explain how you spend RM592b of Petronas’ contributions – DAP tells Govt

Nga Kor Ming, the assistant national treasurer of DAP said that the party is demanding the government to reveal and explain how they spent the RM592billion contribution by Petronas. DAP and the opposition have been criticizing the government over their ‘careless spending’ after the recent subsidy rationalization. He said “The government needed to reveal how it manages the country’s wealth before attempting to justify its move to scrap subsidies.”

“Since Petronas’ formation in 1974, the oil and gas giant had been the single largest contributor to federal coffers, with payments to the government totalling RM592 billion. In 2008, Petronas paid the government RM61.6 billion and last year, it contributed as much as RM74 billion. This year, even with the decline of RM16.4 billion, Petronas still paid RM58.3 billion, including RM30 billion in dividends,”

He also said “Voters deserved the right to know how Petronas’ contributions had been spent in order to prove there was accountability and transparency in the government’s financial management. To avoid corruption and ensure that the country’s total assets are not focussed on merely a few cronies, it is the government’s responsibility to inform the public how Malaysia’s wealth and treasures are managed. The government says the subsidy system needs to be restructured if we want to avoid becoming a bankrupt nation by 2019. But the people know better that this excuse is not good enough. The AG’s report has revealed before that Malaysia faces RM28 billion in annual losses resulting from leakages and mismanagement in the funds of government agencies and departments under the Barisan Nasional leadership,”



comments

Rm592 billion JUST on the Petronas's contribution, how about other TAXES ! So it can easily comes to a few thousand billions YET we are in rm362 billion DEPT !

Even a cendol seller like can smell something very wrong. It don't need a rocket scientist or a professional accountant to tell us something is VERY VERY wrong with our government financial system.

Country in very bad shape, yet we spend few billions on three stupid submarine and spend additional 4 billions on Najeep dept, lost few billions from Felda and lost rm 5 billions on PPSMI.


The country will not go bankrupt in2019 as what the UMNO block heads have been talking when the Minister Idris Jala explained the financial situation of the country. Malaysia is holding a deficit of RM362 billion. The AG also mentioned in their report that RM28 billion in losses from leakages and mismangement in the funds of government agencies and other departments under the Barisan Nasional leadership. As our financial account is in such a bad shape, even GREENSPAN. the financiall expert from US, will not be able to help us unless we cut off those parasites (government agencies that lost money) and remove the subsidy on those organisations ( power generating) and Plus Toll where they are making hugh profits. If the situation worsens in a very short time, we need to sell the two submarines as "SCRAPS"....save the maintenance costs on a yearly basis. We need to tighten the belts together to reach 2020 status.


In overseas, if any ministers who had lost ten of twenty million US will have to resign and before they resign they have to apologize to the citizen for their incompetence. In New Zealand, a minister will resign when he was 'caught' misusing the government fund for only 15 K, in American a senator will give up his position when he was found receiving US150,000 of F.O.C. renovation works.

But back in BolehLand, our Umno/BN elites, can 'makan' tens to hundreds of millions per project, and have been going on for decades yet there are 'untouchable'. The whistle blowers will either have been sack by the party or some even threaten with ISA.... what the fark with our BolehLand ... a Land of Broad daylight Corruption ".