On petrol and gas subsidies from one Minister I once held in some esteem as being independent minded although he is from UMNO; some people call him a "maverick", and because I was on the run away in KL/PJ the last two days -- to cari makan-makan dan jalan-jalan while mGf donPLSYpuks helped Desi update his Blog wit' some steals doing cari-gali petroNASi kiasi, here's is another gem stolen from another Maverick! Blogger maestor on law dan management Dr SM Yeoh does not BullSh*t as he's not in UMNO, tomy knowledge-lah!...I haven't bumped into him at PKR functions either, nyet! ~~ YL, Desi,knottyaSsusual
On June 14, 2008 back in Furong; on Fridae the 13th yesterday I cowherd dared not venture into downcity KL-- hydeing in downtown PJ where a certain Shah's Village Motel beckoned for an INVITE I could not refuse. I thought we were entering Indiana Jones' terrortry!:)
The Pseudo-secret of Fuel & Gas Subsidy
The records for 2007 shows that 41.5% of Malaysia's TOTAL SUBSIDY amounting to RM16.2bil went to the Independent Power Producers such as YTL Power (Paka & Pasir Gudang), Segari-Malakoff Bhd, Genting Sanyen, Powertek, Port Dickson Power Bhd, Projass, Teknologi Tenaga Perlis, Pahlawan Powers, Prai Power,Panglima Power, Kapar Energy ventures and various others - that means RM6.7bil was subsidized to IPPs out of the RM16.2b subsidy for petroleum product subsidy for 2007.
The subsidies for education is 9%, rice is 2.2%, Transportation is o.5% and social subsidies is 0.6%.
Amazing? The peoples money are used to subsidies private giant ultra-rich companies while the rakyat had now to pay the full cost of the fuel albeit with a so-called 30sens subsidy. The so-called 30sens subsidy per litre of petrol is largely attributed to the IPP subsidies. With such lucrative and lop-sided contracts given to the IPPs it is no wonder that the rakyat is fully screwed downside up and the irony is they are still blur blur and have yet to understand fully the deleterious coquetting of the race-based political leaders of the ruling party who are still using the ketuanan thing to screw-up their mindset and hopefully kept them stupid and calumnious.
Posted by Maverick SM at 6/10/2008 12:45:00 PM
Re-posted from Desi's on June 11, 2008:(
From the Star Online:
Wednesday June 11, 2008
Shahrir: Petrol money used as subsidy in many areas
Part of the money used by the Government as subsidy is Petronas’ contribution from its annual revenue.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad said the national oil company did not subsidise petrol at the pump but gave the Government part of its revenue to be put into a consolidated fund.
“It is money from the fund that the Government is using to subsidise petrol, agriculture, education, welfare, and now food. We give all these aids with the help of Petronas.
“Ever since the fuel price increase was announced, people have been demanding to know why Petronas is not helping out. What they don’t know is that the company has been helping out all this while.
“The Government, on the other hand, pays from its coffers to petrol companies as fuel subsidy.
This is also being enjoyed by Petronas,” Shahrir told reporters after attending his first monthly gathering with the ministry’s staff since his appointment as the minister.
He said the public needed to understand the situation so that there would no longer be accusations that the company was not using its billions of ringgit in revenue to help people.
“Petronas is helping out. Let me assure you of that,” he said, adding that it was important to lift or reduce subsidy so as to discourage wastage and to give higher value to the assets or commodity.
“I am of the opinion the public is not appreciative of the value of goods because they need not pay the actual price. Subsidy has led to wastage. Now, with lesser subsidy, people will tend to be more careful about how they use goods like petrol because they have to pay more.”
DESIDERATA: I once used to hold MP from Johor Bharu in some esteem especially for being outspoken against the Government's decisions although it went against the UMNO-BN line. I believe it was one on key issue he was left with no choice but give up the BBC chair.
But since his AP in Pak Lah's Cabinet after GE2008, Sharir has become a gOvernment APologist of the highest -- or is it the lowest? -- order.
Hey, Sharir, what "A Voice" and many others are saying here is that Malaysians should ENJOY LOWER PRICES because, C&P from a recent piece I wrote:
*** Malaysia is a net exporter of oil i.e. we in fact do import lower-grade oil fror domestic use, and export our higher grade oil;
*** Being of higher grade, the oil Malaysia exports commands a PREMIUM price over the price we pay for imported oil, hence every time the world oil price rises,
MALYASIA GAINS IN TERMS OF GREATER REVENUES;
*** The only trouble is that the GOVERNMENT IS ALWAYS HARPING ON RISING SUBSIDIES, BUT MY ARGUMENT (also Sdr SALAHUDDIN's I infer) IS THAT THE GOVERNMENT KEEPS "MUM"ON WHERE THE "EXTRA" REVENUES GAINED BY PETRONAS ARE GOING TO, assuming everything being equal from the preceding year... since I started tracking the FY reporting for past three years?
DESI now says: "SHARIR, you did learn from a lawyer-maestro of the VK LINGAM"S TAPE FAME -- ooops, correct, correct, correct that to INFAMY! -- "I am only BULLshitting and bragging!"