PARLIAMENT National oil company Petronas has contributed RM732 billion to government coffers since its inception in 1974, the Dewan Rakyat was told today.

In a written answer to Nga Kor Ming (DAP-Taiping), Prime Minister Najib Abdul Razak said that the amount was the latest recorded at the end of the 2012 fiscal year.

During a press conference later, Nga pointed out that this sum was more than the current national debt that the government has incurred over the years.
Nga said that due to the enormous amount of contribution that Petronas has made to the government, the oil company's finances should be subject to the Auditor-General's scrutiny as well.

"The Auditor-General should be allowed to scrutinise Petronas accounts, and it should be tabled in Parliament in order to safeguard the interest of the people," he said.

Right now, Section 3 of the Petroleum Act 1974 states that only the prime minister can have direct access to the Petronas accounts.

"We urge that Section 3 be amended so that the finances can be viewed by the Malaysian public," Nga said.

Out of the RM732 billion, RM 278 billion was paid under the category of company dividends, RM124 billion under petroleum revenue, RM310 billion in income tax, and RM20 billion in export duty.

~ Malaysiakini