He said Petronas had paid out a total of RM488 billion in dividends to the government since the company’s 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 to Pang Hok Liong (PH-Labis) who wanted to know whether Petronas would definitely pay dividends after it recorded a RM21 billion loss in 2Q.
Pang also asked about the impact of the losses as well as implications on the country’s economy in general and specifically on the economic plans under the 12th Malaysia Plan (12MP).
Mustapa said the 12MP, initially scheduled to be tabled on Aug 6, had been postponed to early next year to enable the government to take into account the changes caused by the Covid-19 pandemic.
He said a review was needed of the economic analysis adopted when preparing the policies, strategies and initiatives of the 12MP.
“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.
He further said that this move was taken to ensure the initiatives drafted under the 12MP were in line with the current aspirations and policies which became the core support for the government, besides making sure the 12MP was made based on more realistic economic and fiscal positions.
RM61 billion cash payments to four states
Petroleum cash payments made to Sabah, Sarawak, Terengganu and Kelantan from 2008 to 2020 amounted to RM61.32 billion, said de facto law minister Takiyuddin Hassan.
“The petroleum cash payments were RM25.3 billion for Sarawak, RM13.2 billion for Sabah, RM22.4 billion for Terengganu and RM418.9 million for Kelantan,” he told the Dewan Rakyat in a written reply to Saifuddin Nasution Ismail (PH-Kulim Bandar Baharu).
Takiyuddin said Petronas paid 5% of petroleum product sales directly to the Sabah and Sarawak governments. Payments to the Kelantan and Terengganu governments were channelled through the finance ministry.