Bringing Down Oil Price Is Unthinkable.
Malaysia will face ruin if it tries to bring internal oil prices way down. So says the Deputy Prime Minister Datuk Najib Razak today.
He was commenting on an allegation by members of the Opposition that they will bring the price of oil down to an acceptable level, once they are elected.
Datuk Najib told a gathering that some of the oil that Malaysia needed are actually imported. Malaysia's oil are of different grade and can be used for jet fuel. The price of Malaysia's exported oil is high and this is good for business.
"Eventhough the price of the oil we imported are comparatively cheaper, it is still high. Malaysia cannot subsidise the oil that we imported forever,' the Deputy Prime Minister said later.
He repeated that the opposition are only good at promising but they knew well that they cannot win this election. When they knew they will lose out they made flamboyant promises so as to reduce their damage.
"We need the revenue from oil so that we can continue our development agenda. We must seek consensus and work together to build everything that needed building."Datuk Najib added further.
He said again that if the government continue with subsidising its oil prices there will be no more money for development and the country will face ruin.
Tags: Oil , Import , Subsidy , Development , Ruin
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