[Sun2surf] Pos Msia not getting 1% of rebate

13 07 2008

~ Husna Yusop

KUALA LUMPUR: Second Finance Minister Tan Sri Nor Mohamed Yakcop today denied that Pos Malaysia will be paid a commission of 1% to disburse the RM6 billion in cash rebates to vehicle owners following the decision to raise the fuel price early last month.

Addressing points raised in the Dewan Rakyat that Pos Malaysia would be making RM60 million just from the disbursement service, he said: “The amount will be determined based on work done. It has yet to be decided. It is not 1%, it is still being negotiated.”

He said the House would be informed once a decision had been made.

Nor Mohamed was referring to points raised by Teo Nie Ching (DAP-Serdang) and Dr Mohd Hatta Ramli (PAS-Kuala Krai) in his winding-up speech for the debates on the 9th Malaysia Plan mid-term review.
Outside the House, the money that Pos Malaysia will make is also the subject of a speculative e-mail that had been making the rounds in cyberspace.

To another question from Mohd Hatta, Nor Mohamed said it was not true that Pos Malaysia was allocated the whole sum meant for the rebates right from the beginning irrespective of how much it is actually going to pay out to consumers.

“The amount of rebates disbursed so far is RM839.6 million to 1.8 million vehicle owners. The money is given to Pos Malaysia in stages. We don’t give the whole RM6 billion in one lump sum.

“And until March next year, we will only give to Pos Malaysia based on the amount of rebates it has paid out. Not a sen more,” he said.

He also stressed that ECM-Libra — a company that MPs earlier said was linked to the prime minister’s son-in-law Khairy Jamaluddin — does not have any relation to Pos Malaysia as it does not have a share in the national postal company.

“I have said it is not involved. It is a fact. You can check it out. No connection at all,” he said, to a dissatisfied Wee Choo Keong (PKR-Wangsa Maju) who interjected to ask him why there were rumours about this if it was not true.

Nor Mohamed also told Mahfuz Omar (PAS-Pokok Sena) the rebate is meant for one cycle from April this year until end of March next year and the government would decide later whether to continue with the existing system or come up with a better one.

Other points he made:

> the government has to implement cost-cutting measures to avoid borrowing from the International Monetary Fund (IMF) which he called the “international ah long.”

“Malaysia’s loan rating is very high, which is at the AAA level, and this allows the government to borrow from any banks but if we don’t control the borrowings, it will make our rating fall until it reaches the junk level.

“At this stage, banks would no longer like to offer us any loans and the government may have to borrow from the IMF. And our country will have to submit its sovereignty, dignity and economic control to them (IMF).”

> Petronas does not monopolise the natural gas for vehicles (NGV) industry. It is the other petrol companies who are not interested to enter this field because the price is controlled by the government at 68 sen per litre while the market price is RM3.11.

He said Petronas subsidises each NGV vehicle about RM1,300 a year.

“Since 1997 until March this year, Petronas has given out a subsidy of RM430 million to 30,000 natural gas vehicles in the country.”

This article is taken from the news portal of ‘The Sun‘ newspaper.


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