Govt has not finalised Pos Malaysia fee
The Edge Daily (9/7/08): The government has not finalised the fee to be paid to Pos Malaysia Bhd for handling the fuel subsidy cash rebate payout to motorists, Second Finance Minister Tan Sri Nor Mohamed Yakcop said, refuting rumours that the company would get 1% of the total payout.
"We are still negotiating for a reasonable fee and we will inform the House of the amount paid to Pos Malaysia," he said in his winding-up speech on the debate on the Ninth Malaysia Plan Mid-Term Review in the Dewan Rakyat yesterday.
Nor Mohamed was replying to Dr Hatta Ramli (Kuala Krai-PAS) who said he heard that Pos Malaysia may get a 1% commission amounting to RM50 million a year from the total payout of RM5 billion.
Nor Mohamed explained that Pos Malaysia was selected to implement the cash rebate payout as the company had 686 branches nationwide with computer systems linked to the Road Transport Department.
To date, Pos Malaysia had paid out RM839.6 million in cash rebates to 1.8 million motorists, he said.
The minister also said that the government was expecting to distribute up to RM6.13 billion in cash rebates to motorists who paid their road tax between April 1, 2008 and March 31, 2009.
"This amount would be provided to Pos Malaysia in stages and the government would only extend the amount paid out by Pos Malaysia. Not one sen more," he said.
On how long the government would maintain the cash rebate policy, Nor Mohamed said the mechanism would be reviewed after the first year.
He also refuted an allegation by Wee Choo Keong (Wangsa Maju-PKR), who claimed that the ECM Libra Financial Group was involved in the cash rebate payout. "ECM Libra is not involved at all. This is a fact that can be checked," he said.
Nor Mohamed said the government's subsidy bill could increase to more than RM30 billion this year from RM8.8 billion last year due to the hike in crude oil prices.
"In this situation, the government needs to make a decision - which can either be a popular decision or a responsible one," he said. The government, Nor Mohamed said, was aware that it would be criticised no matter what decision it took.
"The trust that we hold is not only for the 27 million people (of Malaysia) now," Nor Mohamed said. "We are also responsible for the future generations. As such, the government has to find a mechanism (to reduce the fuel subsidy)."
"We are still negotiating for a reasonable fee and we will inform the House of the amount paid to Pos Malaysia," he said in his winding-up speech on the debate on the Ninth Malaysia Plan Mid-Term Review in the Dewan Rakyat yesterday.
Nor Mohamed was replying to Dr Hatta Ramli (Kuala Krai-PAS) who said he heard that Pos Malaysia may get a 1% commission amounting to RM50 million a year from the total payout of RM5 billion.
Nor Mohamed explained that Pos Malaysia was selected to implement the cash rebate payout as the company had 686 branches nationwide with computer systems linked to the Road Transport Department.
To date, Pos Malaysia had paid out RM839.6 million in cash rebates to 1.8 million motorists, he said.
The minister also said that the government was expecting to distribute up to RM6.13 billion in cash rebates to motorists who paid their road tax between April 1, 2008 and March 31, 2009.
"This amount would be provided to Pos Malaysia in stages and the government would only extend the amount paid out by Pos Malaysia. Not one sen more," he said.
On how long the government would maintain the cash rebate policy, Nor Mohamed said the mechanism would be reviewed after the first year.
He also refuted an allegation by Wee Choo Keong (Wangsa Maju-PKR), who claimed that the ECM Libra Financial Group was involved in the cash rebate payout. "ECM Libra is not involved at all. This is a fact that can be checked," he said.
Nor Mohamed said the government's subsidy bill could increase to more than RM30 billion this year from RM8.8 billion last year due to the hike in crude oil prices.
"In this situation, the government needs to make a decision - which can either be a popular decision or a responsible one," he said. The government, Nor Mohamed said, was aware that it would be criticised no matter what decision it took.
"The trust that we hold is not only for the 27 million people (of Malaysia) now," Nor Mohamed said. "We are also responsible for the future generations. As such, the government has to find a mechanism (to reduce the fuel subsidy)."
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