KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will pay RM34 billion in dividend to the federal government this year, even though the national oil company posted losses in the second quarter of 2020, said Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed.
He said Petronas had paid out RM488 billion in dividends to the government since its establishment in 1974.
"In 2019, the total amount of dividend paid out by Petronas was RM54 billion, including a special dividend of RM30 billion," he said in a written reply in the Dewan Rakyat on Monday.
Mustapa was replying to a question from Pang Hok Liong (PH-Labis) who wanted to know whether Petronas would pay dividends to the government this year after it recorded a loss of RM21 billion in the second quarter ended June 30, 2020.
Pang also asked about the impact of the losses and their implications for the country's economy in general, and specifically on economic plans under the 12th Malaysia Plan (12MP).
On this, Mustapa said the 12MP, which was initially scheduled to be tabled on Aug 6, 2020, had been postponed to early next year to enable the government to take into account changes caused by the Covid-19 pandemic.
"Considering that Covid-19 has brought about noticeable impact on the global economy, including Malaysia's, the economic analysis being adopted when preparing the policies, strategies and initiatives for 12MP needed to be reviewed, especially on the country's economic growth projection.
"Besides that, the delay was made so that more engagement sessions between all stakeholders can be held, including with ministries and agencies, state governments as well as economic experts," he said.
Mustapa added that the move was made to ensure that the initiatives drafted under the 12MP were in line with the current aspirations and policies that form the core support for the government, besides making sure the 12MP was made based on more realistic economic and fiscal positions. - BERNAMA