Contingency plan needed in view of declining crude oil prices, DAP tells Najib

January 23, 2015

Dateline 2014-11-17, The Malaysian Insider:

DAP lawmaker Liew Chin Tong today called on Prime Minister Datuk Seri Najib Razak to present a revised Budget 2015 or a contingency plan to take into consideration the declining prices of crude oil, which would severely dent the government’s revenue.

He said that Najib should at least present to parliament his plans if faced with three scenarios: of crude oil prices dropping to US$80 (RM267.40), US$70 (RM233.90) or US$60 (RM200.50) per barrel.

“The government had estimated its 2014 revenue with the crude oil price at US$110 (RM367.60) per barrel and US$105 (RM351) per barrel for 2015,” he said in a statement today.

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Don’t impose fuel sales tax if global oil price falls, DAP lawmaker tells Putrajaya

January 9, 2015

And why not? This is separate from the GST, is it not? And did we not elect Putrajaya?

Dateline 2014-11-01, The Malay Mail:

A DAP lawmaker told Putrajaya today not to impose a petroleum sales tax in the event that global crude oil prices fall further.

Kluang MP and DAP’s National Political Education Director Liew Chin Tong‎ said that the government should not attempt to impose the said tax as means to just fill the revenue gap, as a result of smaller petroleum-related revenue from Petronas.

He said the ‎government should instead commit to reducing the price of RON95, if global prices continue to fall‎.

“It is most unfair for the Malaysian public if a sales tax is imposed when crude oil prices fall below the current pump price,” Liew said, calling on Prime Minister Datuk Seri Najib Razak to “categorically reject” such an option immediately.

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