Categories

Login

Corruption & Cronyism >>>

How about more than RM 19 Billion subsidy to IPPs?

They are two main losers in IPP scheme.

1. TNB has to pay RM 19 billion to IPPs in 2010.

2. Petronas has to sell subsidized natural gas to IPPs.(Not sure the exact amount because Petronas is a secretive company to layman.)

At least a half of fuel subsidy is burned and wasted as C02 due to 40% excess capacity in order to enrich UMNO cronies legally.

This is reason Malaysians have never enjoyed full subsidized electricity bill.

Government To Spend Over RM14 Billion Subsidies This Year

TEMERLOH, Feb 27 (Bernama) – The government is expected to spend over RM14bil on subsidies of essential goods including petrol and diesel this year.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said this is due to increase in the global price of goods and oil products.

“Last year the government spent RM10.3bil on subsidies for the people,” he told reporters after meeting voters in Kerdau near here Sunday.

Ismail said the government has no plan to abolish subsidies in the near future.

“Any reduction of subsidies must take into account the impact on the people although it is a burden to the government.

“Subsidies are not only given during elections as the Barisan Nasional government has been giving them for a long time.”

He said Malaysians are fortunate that the government give subsidies unlike people in other countries who have to buy goods at higher prices.

–BERNAMA

The nkkhoo.com comment board with Facebook account.