save malaysia!
Azmin denies Pakatan breaking election pledge with oil ‘royalty’ definition
savemalaysia
Publish date: Wed, 01 Aug 2018, 04:48 PM
KUALA LUMPUR, Aug 1 — The oil royalty payment promised by Pakatan Harapan in its manifesto referred to cash payments given to oil-producing states and not gross revenue shares, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said today.
Azmin today defended the promise made in the election manifesto after several MPs claimed that the government was breaking its election manifesto by not providing a 20 per cent oil royalty from gross production.
“The manifesto says 20 per cent royalty. ‘Royalty’ is a term commonly used in the industry, but the Petroleum Development Act (PDA) only states cash payments and not royalty,” Azmin told the Dewan Rakyat today while wrapping up debates on the Royal Address.
Azmin earlier faced a heated debate with opposition lawmakers from Umno, PAS and also MPs from Sarawak due to the perceived change in interpretation of the manifesto.
Azmin earlier said that the promise meant a 20 per cent share from net profit for oil producing states.
However, a 20 per cent share from net profit would ostensibly mean lower payouts for oil-producing states, compared to the 5 per cent goods production shares that the states receive.
https://www.malaymail.com/s/1658221/azmin-denies-pakatan-breaking-election-pledge-with-oil-royalty-definition
More articles on save malaysia!
Nenggiri polls: Perikatan concedes, congratulates BN on victory
Created by savemalaysia | Aug 17, 2024
Public should evaluate civil service performance following salary hike, urges PM
Created by savemalaysia | Aug 17, 2024
TVET for foreign students will be managed by private sector, says Deputy PM
Created by savemalaysia | Aug 17, 2024
Umno VP: Take action against Muhyiddin for playing up 3R issues in Nenggiri
Created by savemalaysia | Aug 17, 2024
Rafizi: 2Q growth of 5.9% shows investor confidence in Malaysia's economic potential
Created by savemalaysia | Aug 17, 2024
New approaches needed to address changing political landscape says Zahid
Created by savemalaysia | Aug 17, 2024
Malaysia to maintain 4.8% economic growth forecast in 2024, says bank
Created by savemalaysia | Aug 17, 2024
Suhakam urges accountability for negligent parents of underage motorcyclists
Created by savemalaysia | Aug 17, 2024
Discussions
Be the first to like this. Showing 20 of 20 comments
Ur master UMNO also lied alot mah....!!
I say PH did not lie, it just over promise mah....!!
2018-08-01 17:46
Just imagine the financial commitment of PH ,if all manifesto implemented loh....!!
1. GST abolish Rm 25 billion
2. Subsidize petrol Rm 9 billion
3. Abolish toll Rm 20 billion
4. Min pay Rm 1500...........Rm 6 billion
Msia country debt Rm 1 trillion...need to service debt commitment.
Due to BN govt mis use loh....!!
So must priotitise limited resources mah ......!!
2018-08-01 17:53
1st all....this fellow still...pump subsidize Ron 95 under courteousy of PH govt mah....!!
Some more everyday bark non stop loh....!!
Yes PH can give 20% royalty based on revenue...but then ...who going subsidize your petrol etc loh....!!
Selangor & Wilayah are the state the most tax to the federal govt mah...this is revenue is still share with all the poorer state mah...!!
So if PH govt propose royalty based on 20% profit instead of revenue and if still higher than the 5% royalty based on revenue take it loh...!!
Still better off compare with BN loh....!!
So the oil state odd to compromise too mah...!!
If PH give out here give there without looking at affordability ...surely....the country finance will suffer & rakyat will suffer too loh...!!
Don forget PH govt has already given out nett rm 25 billion gst waiver loh....!!
Posted by Stock Raider > Aug 1, 2018 05:49 PM | Report Abuse
Mahathir and Azmin lied to all oil producing states! There's major difference between oil royalty and profit sharing! If Petronas fail to turn profit, then all oil producing states will get nothing! Zero! Based on real royalty principle, the oil producing states will get 20% royalty on every barrel of crude oil they produce!
2018-08-01 17:54
Instead of leading Malaysia to greater height, now PH gov become Santa Claus.
2018-08-01 17:56
The DNA of msian is freebies mah....!!
So both PH & BN over promise loh.....!!
If santa no money to buy present...then give lesser value present mah..!!
This is practical mah...!!
What there to argue leh ??
Posted by TrippleZ > Aug 1, 2018 05:56 PM | Report Abuse
Instead of leading Malaysia to greater height, now PH gov become Santa Claus.
2018-08-01 17:59
They take 100% of the oil revenue from Terengganu, Kelantan, Sabah and Sarawak and give back just 5%. Then they give this money to places such as Selangor and Kuala Lumpur. People in Selangor and Kuala Lumpur want no GST, no toll charges, low petrol prices, free health and education, and much more. But all this will be paid for from the petroleum revenue from Terengganu, Kelantan, Sabah and Sarawak.
2018-08-01 18:00
About 20% of Malaysia’s 32 million population live in Selangor and Kuala Lumpur. There are about 14 million cars on Malaysian roads. More than 50% of the cars are in Selangor and Kuala Lumpur. Most of the toll highways are also in Selangor and Kuala Lumpur.
2018-08-01 18:00
Hence, if they remove toll charges, then 20% of Malaysians who own more than 50% of the cars will benefit. And if they pay compensation to the highway concessionaires (as they will have to according to the concession agreement if they remove the toll charges) then 80% of Malaysians who own less than 50% of the cars will be paying for 20% of Malaysians who own more than 50% of the cars to have free highway use.
2018-08-01 18:00
The fact is, once you remove toll charges and pay compensation to the highway concessionaires, it will be the taxpayers who will be paying. Billions will be spent in compensation so that 20% of Malaysians who own more than 50% of the cars can benefit. That money could instead be used to develop states such as Terengganu, Kelantan, Sabah and Sarawak that are supplying Malaysia’s petroleum.
2018-08-01 18:01
So, Malaysians from Terengganu, Kelantan, Sabah and Sarawak are being denied their rights (according to the Federation Agreement that says natural resources belong to the states and not to the federal government) so that Malaysians in Selangor and Kuala Lumpur (plus those in Penang, Kedah, Perak, Johor, etc.) can enjoy a free life. And that is why the government can only pay Terengganu, Kelantan, Sabah and Sarawak 5% Oil Royalty and not 20% Oil Royalty. They need the money to allow 20% of Malaysians to live a free life at the expense of 80% of Malaysians.
2018-08-01 18:01
Simple then stick to 5% royalty based on revenue or whichever higher loh...!!
I m sure PH will agree on that mah....!!
Posted by Stock Raider > Aug 1, 2018 05:59 PM | Report Abuse
Mahathir and Azmin lied to all oil producing states! There's major difference between oil royalty and profit sharing! If Petronas fail to turn profit, then all oil producing states will get nothing! Zero! Based on real royalty principle, the oil producing states will get 20% royalty on every barrel of crude oil they produce!
2018-08-01 18:01
1st of all Petroleum Act mentioned 10%....5% for federal govt & 5% for state mah....!!
So u want 20%....something...kena potong...loh...!!
Maybe Govt have to raise income tax to 40% loh to finance the extra 20% royalty loh....then everybody suffer mah.....!!
Must be practical & rational loh....!!
Posted by Rajapetra > Aug 1, 2018 06:01 PM | Report Abuse
So, Malaysians from Terengganu, Kelantan, Sabah and Sarawak are being denied their rights (according to the Federation Agreement that says natural resources belong to the states and not to the federal government) so that Malaysians in Selangor and Kuala Lumpur (plus those in Penang, Kedah, Perak, Johor, etc.) can enjoy a free life. And that is why the government can only pay Terengganu, Kelantan, Sabah and Sarawak 5% Oil Royalty and not 20% Oil Royalty. They need the money to allow 20% of Malaysians to live a free life at the expense of 80% of Malaysians.
2018-08-01 18:06
stockraider, that's not my point. Now Malaysia is like a rich family with their heirs fighting each other for own benefit. It always end up pretty bad for the family.
2018-08-01 18:07
Correct loh...as i say Selangor & wilayah people...paying more income tax....people from oil producing state also benefit from the income tax collected from the rich state ....which is share with them too mah..!!
So how come...the oil state, cannot share some of their resources with non oil producing state leh ??
Posted by TrippleZ > Aug 1, 2018 06:07 PM | Report Abuse
stockraider, that's not my point. Now Malaysia is like a rich family with their heirs fighting each other for own benefit. It always end up pretty bad for the family.
2018-08-01 18:12
stockraider, people are greedy that's why. Now the one (BN) that rule them already died, successors taking every opportunity to grab whatever treasures left.
2018-08-01 18:18
Ask BN loh....they govern 60 yrs and pakatan only 3 mths mah...!!
Posted by Stock Raider > Aug 1, 2018 06:17 PM | Report Abuse
How come oil producing states are so poor! While non oil states are so rich!
2018-08-01 18:20
Thats why raider says PH should not given so much loh...!!
Give in royalty based on...20% of profit if higher than 5% based on revenue. If not higher then the state continue to take 5% based on revenue loh....!!
Furthermore all those oil producing state are BN state except sabah loh.....!!
Thus better do not concede so much & state to the Petroleum act agreement loh....!!
2018-08-01 18:25
Post a Comment
Featured Posts
Latest Videos
.png)
.png)
Apps
Top Articles
1
Good Articles to Share
2
3
save malaysia!
4
Good Articles to Share
5
Good Articles to Share
6
BFM Podcast
7
BFM Podcast
8
BFM Podcast
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
No trading signals available.
Stock
Time
Signal
Duration
No trading signals available.
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockraider
1st all....this fellow still...pump subsidize Ron 95 under courteousy of PH govt mah....!!
Some more everyday bark non stop loh....!!
Yes PH can give 20% royalty based on revenue...but then ...who going subsidize your petrol etc loh....!!
Selangor & Wilayah are the state the most tax to the federal govt mah...this is revenue is still share with all the poorer state mah...!!
So if PH govt propose royalty based on 20% profit instead of revenue and if still higher than the 5% royalty based on revenue take it loh...!!
Still better off compare with BN loh....!!
So the oil state odd to compromise too mah...!!
If PH give out here give there without looking at affordability ...surely....the country finance will suffer & rakyat will suffer too loh...!!
Don forget PH govt has already given out nett rm 25 billion gst waiver loh....!!
2018-08-01 17:43