Anwar on Tuesday annouced that he will reduce the petrol price by 50 Cents if his pakatan rakyat takes over the government in September. According to him, the government would need an extra RM5 Billion for that 50 Cents reduction. And he greatly pointed out how we can get that RM5bil. Through reduction of IPP Power reserve from 40% -20%, reduce bribery, increase efficiency of government, and take 1 Bil fomr the 6 Bil that Petronas gave government as Special Divident. So, as we can see, according to his plan, it should not be difficult for the original government just to increase 30 Cents to RM2.2 instead of 70cents to RM2.7/L. But why they didn't think of that? Because they are scared that Petrol price would soar up to 200USD/Barrel.
But as we know, Malaysia through Petronas is a Net Petrol Exporter. Yes, rightly said by Datuk Shaberry that Malaysia is not evern listed in top 20 of Petrol production. But as we know Petronas ventures out of Malaysia for petrol and it is one of the top 10 Petrol Companies in the world. So, when oil price soars up the 200USD/barrel. We should strike equal with the subsidy. (I would not say we can earn more, as SBeRries said we only NET export a bit only). Hence, why increase the petrol price by 70 Cents? (Malaysians are asking you WHY 70 Cents????)
In Conclusion, the 50 Cents reduction in petrol price is totally feasible with the current statistic in Malaysia (provided the government runs efficiently without corruption and bribery).
