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Prime Minister Anwar Ibrahim Pledge To Resign If He Cannot Reduce Petrol Price by 70 Sen & 40% Oil Royalty To Oil-Producing States

A few days after the government announced plans for a new petrol pricing mechanism beginning Sept 1, Datuk Seri Anwar Ibrahim pledged to reduce the current price by 70 sen if he is in power. Launching his pre-election campaign here, the Parti Keadilan Rakyat de facto leader in his homecoming ceramah in the Permatang Pauh parliamentary constituency said last night that price could be lowered due to falling global oil prices.

“Three weeks ago 50 sen but now we can reduce it by 70 sen,” he told his supporters of the promise that he would fulfill should Barisan Nasional MPs cross over to his Pakatan Rakyat side.

Anwar also hit out at critics accusing him of bribing BN lawmakers and being in a hurry to be prime minister.

“Yes, I can’t wait; I can’t wait to reduce the petrol price. Is it wrong to promise to reduce the petrol price? We are not trying to bribe the MPs,” he said.

Anwar, who is facing fresh sodomy allegation by his former male aide, dropped another hint about his future and freedom.

Source : Malaysia Today

Self-proclaimed prime minister-in-waiting Anwar Ibrahim now claims that he will revert, when he takes over of course, to the previous fuel oil prices. If he fails to do so, he says, he will resign immediately as prime minister.

If he fails to do so, he says, he will resign immediately as prime minister.

This is not the first time that Anwar has grossly misled the public in making pledges by referring to his “credentials” as a former Finance Minister for so many years.

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In the run-up to the March 8 general elections and in its aftermath, Anwar promised the oil-producing states of Terengganu, Sabah and Sarawak that he would increase up their current royalty of 5 percent to 20 percent, and at one stage even 40 per cent, if and when when his Opposition Alliance was to seize the reins of power from embattled Prime Minister Abdullah Ahmad Badawi’s mortally wounded Barisan Nasional coalition.

How Anwar would manage the 20 percent pledge is a mystery. Oil and gas reserves have never really benefited the peoples of the lands where these commodities are found in abundance, as established by numerous UN and other studies. In Malaysia, under the Production Sharing Contracts, 70 percent of oil barrels are recovered as cost oil by the contractor concerned.

The remainder 30 percent is shared equally between the oil contractor and Malaysia, with each party getting 15 percent. Malaysia’s 15 percent is split 2:1 with 10 percent going to the federal government, and held by national oil corporation Petronas, and five percent paid by Petronas to the oil states concerned on behalf of the federal government.

Hence, from where does Anwar get the magical royalty of 20 per cent to the oil states?

Beyond that, Anwar’s promise of lower oil prices is built on a promise that as former finance minister he has to know is farcical. If Malaysia’s economy is to return to anything resembling health, market-distorting subsidies and projects like the Proton national car must be done away with completely, which will be painful but has to be faced.

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Source : Asia Sentinel

Anwar: I Will Resign If I Fail To Reduce Petrol Price

Pakatan Rakyat de facto leader Datuk Seri Anwar Ibrahim, who is expected to become the prime minister if the opposition coalition takes over the government, said he will resign if he fails to reduce pump prices of petrol.

“As soon as Pakatan Rakyat forms the government, oil prices will be reduced. I will resign if oil prices are not reduced,” he told a press conference at Parti Keadilan Rakyat’s (PKR) new headquarters here yesterday.

Anwar said Pakatan was committed to reduce the pump prices of petrol and would announce the mechanism to reduce the prices at the appropriate time. “I have no qualms (on reducing petrol prices). It is not an irresponsible statement as alleged,” he added.

He said the coalition would still reduce the pump prices of petrol even if the price of crude oil went above US$200 (RM650) per barrel. However, Anwar said he understood concerns of fund managers and economists about macroeconomic stability and the principle of subsidy reduction.

“I am a firm believer of market economy and I don’t believe that a huge subsidy will be sustainable in the long term but I am also a humanist,” he said.

He added that the income of common people might not increase even though Malaysia would amass the equivalent amount from its crude oil export when prices shot up to US$200 per barrel.

Anwar also hit out at the fact that the government could offer “incentives” to independent power producers (IPPs) while removing subsidies for the common people.

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Source : Malaysia Today

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