Tuesday, March 14, 2017

Rafizi: Najib's petrol income spending highest of all PMs

Zikri Kamarulzaman     Published     Updated
PARLIAMENT Prime Minister Najib Abdul Razak has spent more of the country's petroleum income since taking office in 2009, than any of his predecessors including Dr Mahathir Mohamad, claimed a PKR lawmaker.

Rafizi Ramli (PKR-Pandan) said Najib was the "champion of champions" and had spent RM376 billion of the country's petroleum income between 2009 and 2016, or an average of RM54 billion per year.

"Mahathir, who was PM for 22 years, spent RM163 billion, or RM8 billion a year," Rafizi told the House today.

Rafizi said this figures were based on data provided by the Treasury Department, on petroleum dividends, oil royalties, and petroleum revenue from 1970 to 2016.

He later clarified with Malaysiakini that the Treasury figures did not take into account inflation and currency adjustments.

Rafizi said that Najib's predecessor, Abdullah Ahmad Badawi spent RM204 billion of petroleum income, or RM41 billion per year from 2003 till 2009; Hussein Onn spent RM8 billion, or RM1.6 billion a year (1976-1981); and Razak Hussein spent RM1 billion or RM175 milion per year (1970-1976).

Queried by Hasan Ariffin (BN-Rompin) on the price of oil during each premier's time, Rafizi replied that from Razak to Mahathir's time, oil was at about US$20 to US$30 per barrel.
Meanwhile, during Abdullah times, oil went up to US$120 per barrel before dropping to US$60 per barrel, while during Najib's time, the price per barrel has fluctuated between US$30 and US$70, and is currently at US$58 per barrel.
"But the matter shouldn't be that when you get windfall you spend all of it.

"When you get windfall you should be saving for your grandchildren," Rafizi added.

He said this while debating the Agong's royal address to parliament.

In his speech, he expressed his agreement with Putrajaya's move to set the price of fuel on a weekly basis starting April.

However he stressed that the ceiling price, must include subsidies.

He then highlighted an election promise by Pakatan Harapan, that if they win in the next elections, they will introduce consumption based fuel subsidies, that will be regulated with the use of MyKads to ensure only Malaysians get the aid.

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