The 56 billion ringgit subsidy question

humblevoice - I am referring to the article in Malaysiakini: Pump price at 'market levels by August'.

First of all lets get some basic facts right.

Firstly Malaysia is a net exporter of crude oil. So the government did NOT subsidize our petrol. The RM56 billion ‘subsidy’ per year is the extra amount that the government would have earned if it had exported all of our oil production. There is no 'spiralling bill', the government did not lose any money because it is our own oil and we are not paying anybody for our oil supply.

Secondly – when the government scrapes the so called ‘subsidy’ that it did not pay any money for in the first place – it is forcing the rakyat to buy back our own resources at a much higher price. Each and every one of us will suffer because of this, especially the poor.

The hike in oil prices has not caused hardships to our government. On the contrary it has already earned record profits for Petronas. And now our government is going to squeeze even more profits by squeezing the rakyat. Put it bluntly, the Barisan Nasional government will get filthy rich form the blood money of the rakyat.... selanjutnya.