Gov't urged to set aside fuel tax for future subsidy
Published: Jan 1, 2015 5:40 PM | Updated: Jan 1, 2015 5:44 PM
PKR vice president Rafizi Ramli wants Putrajaya to set aside fuel tax it has collected for future subsidy, when global oil price rises again.
PKR's Rafizi concerned about arbitrary spending by Putrajaya of the windfall.
PKR vice president Rafizi Ramli wants Putrajaya to set aside fuel tax it has collected for future subsidy, when global oil price rises again.
Rafizi estimated that the government collected RM633 million in fuel tax last month after it set petrol and diesel prices to be significantly higher than the market price.
"I am very concerned that this windfall in the form of quietly collected tax will be arbitrarily spent by the federal government when it is deposited into the same revenue account, which is the consolidated account," he said in a statement today.
As such, he urged the government to create a "fuel stabilisation fund" where any surplus collected from fuel sales would be put into.
"The fuel stabilisation fund can only be used to stabilise petrol and diesel price to protect the rakyat against drastic increase in petrol and diesel prices, when the price of oil recovers to its previous levels," he said.
Rafizi said he will draft a Bill for this purpose which he will table as a private member's bill at the next Parliament sitting in March 2015.
The Pandan MP had said that RON95 fluctuated between RM1.75 to RM2.05 per litre last month while diesel was between RM1.79 to RM2.10 per litre, but the government charged consumers RM2.26 and RM2.23 per litre respectively, thus collecting a fuel tax.
Rafizi said the estimated RM633 million figure is accurate as the same calculation method was used to estimate this month's new fuel price of RM1.91 per litre for RON95 and RM1.94 per litre for diesel.
He said the estimation came very close to the government's official price announced yesterday, which was RM1.91 for RON95 anf RM1.93 for diesel.
Rafizi estimated that the government collected RM633 million in fuel tax last month after it set petrol and diesel prices to be significantly higher than the market price.
"I am very concerned that this windfall in the form of quietly collected tax will be arbitrarily spent by the federal government when it is deposited into the same revenue account, which is the consolidated account," he said in a statement today.
As such, he urged the government to create a "fuel stabilisation fund" where any surplus collected from fuel sales would be put into."The fuel stabilisation fund can only be used to stabilise petrol and diesel price to protect the rakyat against drastic increase in petrol and diesel prices, when the price of oil recovers to its previous levels," he said.
Rafizi said he will draft a Bill for this purpose which he will table as a private member's bill at the next Parliament sitting in March 2015.
The Pandan MP had said that RON95 fluctuated between RM1.75 to RM2.05 per litre last month while diesel was between RM1.79 to RM2.10 per litre, but the government charged consumers RM2.26 and RM2.23 per litre respectively, thus collecting a fuel tax.
Rafizi said the estimated RM633 million figure is accurate as the same calculation method was used to estimate this month's new fuel price of RM1.91 per litre for RON95 and RM1.94 per litre for diesel.
He said the estimation came very close to the government's official price announced yesterday, which was RM1.91 for RON95 anf RM1.93 for diesel.
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