Subsidies gone to the elites

While the government is calling for review of subsidies on fuel, sugar and other necessity items, it has been issuing about 100,000 APs (Approved Permits) per year to only 78 companies at RM10,000 per AP whilst the market price per AP is RM40,000. Well, this figure comes up to a total of RM4billion.

Gas is sold to IPPs at RM10 per barrel whilst the market price should be RM40 per barrel. How much gas is sold is not revealed to the public and it could cost billions of ringgit subsidy to IPP (Independent Power Producers) who in turn earns billions of ringgit.

If these malpractices can be stopped the savings or profits to the government are enough to pay for the subsidies for fuel, gas, sugar and etc to the common folks.

And it is just as much surprising and illogical that Sabah, one of the 'oil rich' producing 'states' in Malaysia should actually be enjoying the profits made by Petronas due to the world fuel price hike but unfortunately, the people are made to pay more for their own domestic fuel.