Second Finance Minister Tan Sri Nor Mohamed Yakcop said Petronas has to explore overseas markets for its survival, and to provide financing to the government for development and various subsidies to the rakyat.
"Petronas has to look for new resources, as our natural oil and gas reserves are expected to run out by 2011.
"This reinvestment effort comes at a huge cost, and we cannot simply stop Petronas from expanding just for the sake of a quick fix for global petrol price hikes. If we take out RM10 billion from the Petronas dividend to further subsidise price of petrol, we will deny the company an opportunity to expand," he said.
Opposition candidates are now using the Internet to solicit funds for their election campaigns. While donation boxes are still de rigueur at fund-raising events, DAP's Tony Pua said e-donation was a new way for the party to raise funds.
"Previously, we obtained funds through conventional means such as ceramah and dinners.
"The Internet is now another important channel which has helped us tremendously to get more funds," said the Petaling Jaya Utara parliamentary candidate.
Through their joint website, he said, DAP's Petaling Jaya candidates had collected more than RM10,000 via credit card and online transfers, while another RM20,000 was banked into their Maybank2U account.
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