KUALA LUMPUR, Nov 10 — The government should consider making national oil company Petronas a public-listed company to increase its income, said DAP’s Nga Kor Ming.
The Teluk Intan MP, when debating Budget 2022, said this could render a similar result for Petronas as experienced by Saudi Arabian oil company Saudi Aramco, which became the most valuable company in history after going public in December 2019.
“I would like to suggest that Petronas become a public-listed company, where if Saudi Aramco can become the biggest oil company in the world after becoming listed, Petronas should also do the same.
“Petronas’ accounts must be announced and be held accountable to Parliament,” he said.
Nga then called for the relevant amendments to the Petroleum Development Act 1974 for these changes to happen.
“It is time the government invests for the future, and the old model cannot be used anymore. The question of Keluarga Malaysia must not only sound good but also do good as well.
“If it is done to this effect, we will support the effort, but this needs political will with the prime minister being the best person to lead by example,” he said.
Nga also suggested the government relook its policies concerning fireworks and firecrackers which have since been outlawed as another source of income.
“Firecrackers, we have outlawed them, but we hear during every festive season, Deepavali, Chinese New Year, Hari Raya, the sound of crackers everywhere, but they remain illegal and yet we continue to allow them.
“Not only is the government losing income, it is not legislated, and it encourages activity on the black market,” he said.