Petronas to the rescue

Spurring growth: The one-off payment from Petronas will be utilised to pay the outstanding tax refund to improve the cash flow of businesses and households. — AP

THE government is tapping into Petroliam Nasional Bhd’s (Petronas) reserves to pay off some of its outstanding tax refunds amounting to RM37bil.

The move is expected to spur economic growth from the improvement in the cash flow of businesses and households.