KUALA LUMPUR: An Opposition MP has proposed for Petronas to be accountable to Parliament to ensure better checks and balances on its funds.
Subang MP Wong Chen claimed that this would prevent Petronas’ funds from being abused.
“Time and time again, we know that Petronas has been asked to do ‘national service’. Some of these national duties may have been unavoidable and necessary, but some are the result of poor fiscal discipline and spendthrift attitudes.
“When the latter happens, Petronas should be accountable to Parliament, ” he told reporters during a press conference in Parliament on Thursday (Aug 6).
Wong was referring to a Parliamentary written reply dated Aug 4, where Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed said the government had no plans to amend laws to ensure Petronas is fully accountable to Parliament.
Wong said he was disappointed with Mustapa’s reply, as his proposal was aimed at reducing the Prime Minister’s influence on Petronas.
“Petronas does not belong to the prime minister and as such should not be accountable to the prime minister alone.
“An amendment to the Petroleum Development Act is even more necessary now, when Petronas and all other oil companies are facing challenging oil prices.”
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