KUALA LUMPUR (Dec 10, 2009): Opposition MPs want the government to stop depending on Petronas for revenue after its profits for first half of the financial year ending March 2010 fell by RM59 billion.

Speaking to reporters in Parliament lobby today, Opposition Leader Datuk Seri Anwar Ibrahim said while he welcomed the release of Petronas' half year results, "we are alarmed by the drastic decrease in revenue and profitability".

He said it was unhealthy for the government to be dependent on the domestic oil and gas sector "because the revenue is not sustainable".

The Pakatan Rakyat de facto leader also said the government needs to revisit its Budget due to the changes in the price of crude oil.

The BN government tabled a Budget of RM208 billion for 2009 in October 2008 and another mini Budget of RM60 billion to be spent in 2009 and 2010 was tabled in March 2009. The projection of income for 2009 was made based on the crude oil price leading up to September 2008.

DAP-PJ Utara MP Tony Pua said: "If the government is unable to either find additional revenue or reduce its expenditure, then the budget deficit for 2010 is expected to increase significantly above the projected 5.6% as the government's estimates of RM56 billion collection from the petroleum sector may not materialise.

"The government should not take the easy way out to tax the rakyat to make up for the revenue shortfalls by implementing measures such as the credit card service charge, real property gain tax and the proposed goods and services tax.

"Instead, the government should take this crisis to restructure the large and bureaucratic government machinery to be more lean and efficient."

Link to Other Stories:

RM50mil for local documentaries