Petronas misunderstood 20% oil royalty for state policy’ – Rafizi

November 10, 2012

Puhleez…

Dateline 2012-10-13:

Pakatan Rakyat’s pledge to give 20 percent oil royalty instead of the current 5 percent to oil producing states will not incur extra burden to national oil firm Petronas, said PKR strategic director Rafizi Ramli today.

He said according to the new deal, the coalition will use Petronas’s current contribution of RM70 billion every year to the Federal budget to make up for the additional 15 percent revenue, and not by altering any present tax structure imposed on the company.

Petronas yesterday criticised PR’s plan to increase royalty payment for oil producing states, saying it could jeopardise its business and profitability and tax payments due to lower income.

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Oil royalty settlement: PKR drills for details

June 9, 2012

Yeah, we want to know. But no, you don’t have to explain to voters.

Dateline 2012-04-24:

PKR today called on Putrajaya to disclose details behind the settlement reached between Terengganu and Petronas after the former dropped its legal suit against the national oil company in a longstanding oil royalty row.

Party secretary-general Saifuddin Nasution said the Barisan Nasional-controlled state must explain to its voters what were the benefits received from the out-of-court agreement to disprove assumptions that their right to oil royalty was determined by political discretion.

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PTPTN and the lack of Petronas specifics

May 5, 2012

Ah, a linkage between education and oil, or lack thereof. BTW, here’s an touching article from the SunDaily.

Dateline 2012-04-20:

PARTI Keadilan Rakyat (PKR) raised brows last week when it announced that if Pakatan Rakyat (PR) were to form a government, it would abolish the national higher education fund (PTPTN). The PTPTN was formed in 1997 with the objective of providing loans to students unable to afford fees in local higher education institutions. The larger argument of this proposal is to channel PTPTN funds more effectively to ensure more Malaysians can access education, itself a policy debate that surely must be taking place today.

Public focus, unfortunately, has somewhat shifted away from the issue of higher education itself, following PR leader Anwar Ibrahim’s suggestion that outstanding PTPTN loans of an estimated RM43 billion be written off with Petronas funds. The government however contends that doing so would “squeeze Petronas dry” and kill the goose that lays the golden eggs.

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