The government cannot be too dependent on Petronas for funds, Prime Minister Anwar Ibrahim said, adding that the nation must “move forward”.
On the dwindling Petronas dividend payout, Anwar, who is also the finance minister, said the government has to “bear with it”.
In October, it was reported that the federal government was expecting a dividend payout of RM20 billion from the national oil company, the lowest in nine years.
Anwar said the dividend hinged on Petronas’s performance and petrol prices.
“I think we have to accept that we cannot be too dependent on petrol coffers. So, we have to bear with it.
“We have to create new business entities that could generate more revenue for the government,” he told editors here this evening.
Petronas paid RM32 billion in dividends to the government last year.
According to Reuters, the lowest payout by Petronas was made in the last 10 years, amounting to RM16 billion in 2016 and 2017.
