Why when Petrol Price goes up, the Government has not said anything on increase of Petronas Revenue thus more subsidy?
Referring to my previous to post in my blog regarding
(3) Govt Subsidy Vs Petronas Profit Dated 18,April 2008
18 Sept 2008
(NST) PUTRAJAYA: Datuk Seri Abdullah Ahmad Badawi refused to give hints of further reduction in fuel prices, saying the government would be paying less in subsidy if the world crude oil prices continued to go down. "The cheaper the world prices, the better. However, Petronas' revenue will be less. So is the subsidy borne by the government. We will talk about this some other day," he said at a news conference at the Prime Minister's Office yesterday.
Recently, the prime minister had said the government would reduce fuel prices by a further 15 sen by end of the year if world crude oil prices stay at US$109 (RM374) per barrel.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad was quoted as saying that the government might reduce fuel prices before Hari Raya.
On Aug 22, the pump price of petrol was reduced to RM2.55 from RM2.70 per litre (RON 97) and diesel to RM2.50 from RM2.58 per litre.
After the press conference, Abdullah tested a "hydrogen" motorcycle, costing about RM1 million, invented by Universiti Teknologi Malaysia (UTM).
The environment-friendly motorcycle, which uses hydrogen as a combustible source and cell fuel engine, does not emit smoke or noise.
Also present was UTM vice-chancellor Tan Sri Professor Dr Mohd Zulkifli Ghazali.
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