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PUTRAJAYA: 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.”

- The Star

Comments (23)

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written by omarkhayyam, June 11, 2008 08:38:02

“I am of the opinion the public is not appreciative of the value of goods because they need not pay the actual price."

n

"i am of the opinion that you sold out those who believed and voted for you"

cheers

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written by cble, June 11, 2008 08:39:47

Jika benar apa dikata, kenapa tidak beri tumpuan subsidi kepada barang keperluan harian seperi Minyak masak, tepung, gula dan BERAS. Semua rakyaat memerlukanya. Lihat saja harga komoditi ini di pasaran.

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written by zanie, June 11, 2008 08:41:07

I want to know why Petronas raised the price when it acquires profits of hundred of billions. When the price of oil soars, it gains profit because Petronas SELL oil not buy it.I demand to know what is the world price has got to do with raising the price to the rakyat when in fact it brings profit upon profit as announced by Datuk Mustapha in the parliament.Why?

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written by joseph81, June 11, 2008 08:43:09

“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
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How to trust u, ur boss is a proven liar, and u may not be far off. The best way to prove is make petronas account public, it beats a thousand words from the government

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written by FOLI, June 11, 2008 08:46:10

Petrol subsidy used in many areas? Like for your entertainment?

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written by mymastermind79, June 11, 2008 08:50:29

It means, now when the fuel price goes up, petronas is making more profit and so it should be helping with more subsidies and probably need to look into more areas to get subsidies. But its the other way round. The really understand the logic behind. Black and white is better than cocking around with personal opinions i guess. Dont petronas or the government has little bit of subsidy for themself to declace all this statements of transaction in the media or something. For sure this is not some kind of military secrets, after all this is something the rakyat should know so that they can atleast proud of something.

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written by ilovepakatan, June 11, 2008 09:07:24

Subsidy in many areas? Areas like Umnoputra Div. 1, Umnoputra Div. 2, Umnoputra Div. 3, Son in law Div, Previous Dictator's Pension and Advisor Fee, Project Angkasawan 2009, Blog Project for BN members 2008-2013, Samy Vellu's MIC reform and development 2008-2013, MCA's snoop squad development 2008-2013 and so forth.

No Thanks, Shahrir.

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written by anakbuaya, June 11, 2008 09:11:23

This idiot doesn't understand the pain public suffer. He is only concerned about his minister post n Bodohwi as PM. Pls do not talk rocks n sandiwara here.We r all new generation. U all idiots can't fool us now.

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written by yipck, June 11, 2008 09:12:01

Then wtf are we paying income tax for? Since the income tax will not be sufficient to cover all the infra expansion, welfare, education, healthcare.. etc?

Might as well all paid by Petronas??

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written by Sagaladoola, June 11, 2008 09:13:23

Then we want to see, how much they helped out, how much they earn and its detailed breakdown. Transparency, must be made public.....

The company cannot be considered as "helping out" just because someone just simply say Petronas is "helping out".

Regards,
http://sagaladoola.********.com

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written by chaiksyn, June 11, 2008 09:16:07

Sharir sir, you can go to Hell!

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written by InEffective, June 11, 2008 09:18:20

Rhetoric of no value.

Stop this misleading labeling of subsidy - as though you are doing the rakyat a favor. Its the rakyat's resources and they should get it at cost-of-production with cost-of-domestic-distribution.

Nobody believes that the funds that is recaptured by increasing the pump rates will go back to the rakyat in entirety.

And knowing what racists UMNO are, we can expect that certain races will be once again excluded from relief or will receive token relief.

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written by Gasman, June 11, 2008 09:22:58

Please don't bullshit us, Minister.

Give us the details on where the money has gone to. How much of it has actually benefitted the poor Malays, Chinese, Indians, Iban and Dayaks.

We have lost all trust in the UMNO government which has been using the country's coffers for their own personal interest.
When did you all ever think of the people first?

Typical politicians!
Luckily the people are not so gullible anymore.

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written by cwy, June 11, 2008 09:25:58

He repeated the same thing on live during 'Debat eksklusif' at 9.30pm last night on RTM1.
The other two stupid guests were on his side in cornering Salahuddin.
Sallahuddin did a good job, being calm, quoting statistics, exhibiting his book and talking like a statesman.
Even Sharir commended that he can be the minister of finance if PR takes over the government

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written by Al Ambia, June 11, 2008 09:34:08

You ve just been in tis department for only 3 months.What the hell do you know about economics???

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written by MikeLabu, June 11, 2008 09:35:37

When last year the petrol price was increased 30 cent, it was said that the saving will be used to improve public transportation system.... But it's just getting worse and what happen to the money saved?
We are seeing this reasonings day in day out... but end of the day nothing will happen except our wallet will become dry and they will be more than happy to keep us like that... just a bit better than slaves...

So, how far is it true that our beloved DSAI and PR will take over the Federal Government before 16 Sept? We really need him and PR to take over... The burden is just unbearable to us, the ex-middle class.. now no more middle class only rich and poor....

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written by Ben Nordin, June 11, 2008 09:52:03

“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...
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UMNO/BN's trait. They like to blame others but refuse to take the blame. Now, they're blaming the people who are suffering for the price hike. So far, the wastage that we know has been consistently executed by the UMNO/BN government. When the worms are coming out, they insult our intelligence, have the audacity to knock the us, the people, down and now kicking people in the gut.

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written by Sword of Justice, June 11, 2008 10:19:02

Sharir, you really disappointing us. Many of us thought that with you in the government you will be more vocal and receptive to the peoples needs. I dont need to give you statistics here on price of goods, inflation etc etc, and the fact you take us as dumb fools for your idiotic explanations is like adding fuel to a burning fire. Congratulations Sharir you have now join the ranks on the dumb Malaysian cabinet and here we thought you will make a difference. Kudoos...you are no better than Mahathir the person you despise.

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written by peace lover, June 11, 2008 11:51:35

BN, show us the books so that we get to know where the money/sudsidies as been spent. It will be better to be checked by external auditors (Cause we don't trust yours). DON'T JUST OPEN YOUR BLOODY MOUTH AND TALK. If you feel that we are not appreciative, then ask yourself why are we not appreciative? MAKE US APPRECIATIVE LAH.... Don't hide the books and expect us to believe what you say. We have no trust in you any more.

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written by ultraman, June 11, 2008 12:45:30

Yes. Our money is used to subsidise Ministers paid holidays.
Our money is used to subsidised the ministers spouses' overseas travel
Out Money is used to subsidised Pak Lah's travel in executive jet,.
Our money is used to susidised hefty commission.

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written by ibabonma, June 11, 2008 15:48:58

Apa Malaysia tak ada income lain selain daripada minyak?

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written by machitam, June 11, 2008 17:13:46

nampak gaya mcm itulah...Account Petronas yang "hidden" saja yang tanggung negara ni! account2 yang lain tuh lagi bermacam macam cacing dan tembelang yang akan kita lihat jika BN dan kerajaan bodohwi nanti kita usir. What happen to the Finance Minister?

Maybe he is taking a lesson fron the Oxford graduate?

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written by jokerman, June 12, 2008 02:07:25

Talk is cheap...where is the audit? How about next time the people do the same when filing for income tax? Say..."My annual income is used as subsidy in many areas...areas such as petrol, rice, groceries and other essential items due to price increase. I am of the opinion the government is not appreciative of the value of its people because they (the government) reduced the subsidy so drastically without any mechanism to compensate for the domino effects that will follow through. Undisclosed accounts has led to wastage. Now, with the domino effect taking effect, what will happen to the people? The cost of everything from basic essential items to air tickets will increase, and yet, not much effort has been done to increase the country's GDP or reduce the government's spending...another sick joke...

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