Friday, June 20, 2008

Oil Prices: UMNO Deflecting Criticism to PETRONAS

SALUTE TO PETRONAS of whom without them and their tireless antics this beloved country of ours would be left to rot on the side of Jalan Raja Bot.

In the Rakyat's eagerness to find the seemingly unidentifiable culprit we see efforts being undertaken to deflect the issue and a good number of the Rakyat - be they from the ruling party or the opposition - are convinced that PETRONAS is to be blamed for the single highest petrol fuel price rise anywhere in the world.

Boycotts were arranged and debates were ensued, all demanding PETRONAS to either give up their lifestyle as kings (which left many PETRONAS employees confused) or to reveal detailed accounts. So much so that Tan Sri Hassan Merican himself felt compelled to come forward in his effort to calm the situation.

Like it or not, these actions are demotivating and destroying the very people that have worked so hard to turn PETRONAS from a RM10 million company at its inception to a multi-hundred-billion megacompany with tens of thousands of employees.
In MalaysiaKini, the President of PETRONAS have explained that PETRONAS is governed under the Petroleum Development Act of 1974. Since then a total of RM570 billion in profits were gained and from that RM336 billion (almost 60%) were paid to the government. The rest were used as revolving capital for investment purposes, which would translate into bigger profit hauls for the country in the future.

Now, PETRONAS have proven that they are adept at investing. Personalities such as Allahyarham Tan Sri Azizan and Tan Sri Hassan Merican himself are people who should be applauded by the Rakyat and not victimised. The question should be pointed at that government which had ruled Malaysia since 1975 (the date PETRONAS first contributed to the government's coffers) namely the BARISAN NASIONAL. The question is why are we targetting PETRONAS? why are we so ANGRY with PETRONAS? shouldn't we bear our bayonets to the correct culprit (in Malay: Keparat)?
Rembau MP Khairy Jamaluddin, in his vain efforts to revive a flagging political career, demanded PETRONAS to reveal details of its accounts. No doubt to insinuate the bailout of Konsortium Perkapalan Berhad against Tun Dr. Mahathir Mohamad. Even if this were to be the case, it shows (among many examples) the utter lack of respect and disregard the BN government have shown towards PETRONAS and further amplifying in earnest the blatant misuse of moneys received from PETRONAS by the BN Government. Mega Projects were approved which led to richer UMNOPuteras and BN Cronies but to the detriment of the majority Rakyat.

How did the BN government administer their monies? one needs only to look at the Financial Report of Selangor and Perak where the annual allocation for all representatives were finished barely 3 months into the new year - all for the purchase of T-Shirts, appointing contractors and celebrations.

We should be objective and be wise enough to detect the actual culprit from the innocent. For me, the age-old conundrum that BN is the only experienced body to administer Malaysia has, in terms of managing PETRONAS, effectively gone down the drain.

AMIR HAMZAH BIN AMHA

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