In parliament , Rafizi said that PM Najib is the "champion of champions" when it comes to spending of Malaysia's petroleum income.He said Najib spent RM376 billion of the country's petroleum income between 2009 and 2016, or an average of RM54 billion per year.
Pak Lah spent RM204 billion of petroleum income, or RM41 billion per year from 2003 till 2009 (although Pak Lah only really took over in 2004).
He then said Mahathir who was PM for 22 years, spent RM163 billion, or RM8 billion a year,"
Okay. Rafizi admitted that this did not take into account inflation or currency changes - which would easily have quadrupled Mahathir's spending. Just exchange rate alone would mean it would double.
Secondly, Rafizi also did not factor in cost of production - which also had increased as the cheap oil to produce near the coast or inland is no more and we have to venture into much more expensive off-shore or deepwater rigs.
Thirdly, Rafizi also never called Najib the "champion of champion" when it came to giving subsidies as the chart below based on Treasury figures having spent easily 10 times more than Mahathir did in subsidies mostly due to much higher cost of oil, currency effect as well as multiple fold increase in population.
Much of these additional oil income that PM Najib got were spent back on the people due to the much higher subsidies bill.
Fourthly, Rafizi ALSO did not mention that Mahathir had taxed petrol for 22 years at 58.62 sen per liter as oil prices was cheap then. This alone was tens of billions of additional income for Mahathir to build his twin towers and other mega-projects.
So, Rafizi again serves to mislead without giving the full story and giving one quarter bullshit stories to mislead and incite hate.
Rafizi ended by again asking govt to subsidize petrol again despite the whole world moving towards no longer giving such blanket subsidies and even the biggest oil producers and exporters are removing their subsidies and doing targeted aid like what Malaysia is doing.
Finally, Rafizi still does not want to answer this:
Malaysia is the 16 cheapest in the world for petrol prices, which country - which are mostly big oil producers - does Rafizi want our petrol to be cheaper than?
These are the countries:
Venezuela, Saudi Arabia, Turkmenistan, Egypt*, Algeria, Kuwait*, Iran, Ecuador, Bahrain, Kazakhstan, Nigeria, Qatar, Sierra Leone, Oman, and Bolivia.
Perhaps Rafizi still wants Malaysia to follow Venezuela?
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