ID :
15566
Tue, 08/12/2008 - 10:11
Auther :
Shortlink :
http://m.oananews.org//node/15566
The shortlink copeid
M'SIAN GOVT WILL STICK TO ITS PLAN ON OIL PRICES
PUTRAJAYA, Aug 12 (Bernama) -- The government will stick to its plan to announce the new petrol pump price on Sept 1 despite the current declining trend of world crude oil prices, said Abdullah Ahmad Badawi Monday.
"We will go on with what has been announced and promised," he told
reporters after chairing the first National Economic Council meeting at the
Putrajaya International Convention Centre (PICC), here.
He was asked to comment whether the government would bring forward the
announcement date following the development in global crude oil prices.
Crude oil was traded US$122 (RM405) per barrel last week and US$115 (RM382)
per barrel Monday.
The government had announced that it would make known the new petrol pump
price by Sept 1 after taking into consideration the average crude oil prices for
this month.
Abdullah also said the council did not discuss on the local currency
issue.
He was asked to comment on the Ringgit being traded at its lowest level
with the local currency weakening against the greenback to 3.3160/3180 as at 5
pm today compared with last Friday's closing of 3.3000/3030.
The Ringgit's decline which touched its lowest since January this year was
in line with the sell off in regional currencies as the greenback firmed on
lower crude oil price.
On the council, he described the first meeting as successful and that they
dwelved on issues among others attracting foreign direct investment, good
governance, peace, stability, human capital development, government procedures
need to be further liberalised and the country's competitiveness.
Asked on new initiatives discussed by the council in helping to reduce
the people's burden in facing the current inflation, Abdullah said: "Today we
had a general discussion. We identified areas that can give an advantage to our
country."
Abdullah said after this, the council's executive committee would
deliberate and make decisions on matters raised at the meeting.
The 40-member council includes ministers, heads of department,
captains of industries, academicians and trade unionists.
Asked on the impression given by People's Justice Party (Parti Keadilan
Rakyat) advisor Anwar Ibrahim that the "government was sinking", he said: "What
has Anwar not said negative about us. He said he would move a vote of no
confidence (against me) but nothing happened."
"We will go on with what has been announced and promised," he told
reporters after chairing the first National Economic Council meeting at the
Putrajaya International Convention Centre (PICC), here.
He was asked to comment whether the government would bring forward the
announcement date following the development in global crude oil prices.
Crude oil was traded US$122 (RM405) per barrel last week and US$115 (RM382)
per barrel Monday.
The government had announced that it would make known the new petrol pump
price by Sept 1 after taking into consideration the average crude oil prices for
this month.
Abdullah also said the council did not discuss on the local currency
issue.
He was asked to comment on the Ringgit being traded at its lowest level
with the local currency weakening against the greenback to 3.3160/3180 as at 5
pm today compared with last Friday's closing of 3.3000/3030.
The Ringgit's decline which touched its lowest since January this year was
in line with the sell off in regional currencies as the greenback firmed on
lower crude oil price.
On the council, he described the first meeting as successful and that they
dwelved on issues among others attracting foreign direct investment, good
governance, peace, stability, human capital development, government procedures
need to be further liberalised and the country's competitiveness.
Asked on new initiatives discussed by the council in helping to reduce
the people's burden in facing the current inflation, Abdullah said: "Today we
had a general discussion. We identified areas that can give an advantage to our
country."
Abdullah said after this, the council's executive committee would
deliberate and make decisions on matters raised at the meeting.
The 40-member council includes ministers, heads of department,
captains of industries, academicians and trade unionists.
Asked on the impression given by People's Justice Party (Parti Keadilan
Rakyat) advisor Anwar Ibrahim that the "government was sinking", he said: "What
has Anwar not said negative about us. He said he would move a vote of no
confidence (against me) but nothing happened."
