Friday August 15, 2008
Government hopeful with decline in world market price of crude oil
By JANE RITIKOS
KUALA LUMPUR: The Government is hopeful that it will be able to reduce pump prices of petrol and diesel following the decline in the crude oil price in the world market.
Prime Minister Datuk Seri Abdullah Ahmad Badawi said declining world crude oil price gave good hope for the Government to reduce pump prices.
Abdullah, who had announced earlier that pump price of petrol would be revised on the first of every month beginning Sept 1, said this would also depend on how much the world crude oil price fell.
“At the moment, the world crude oil price is reducing further and there is good hope for us to reduce our pump prices. How much I cannot say,” he said.
On other Asean countries having already reduced their pump prices, he said the Government had already set a formula whereby the prices would be revised every month based on the average price of the world crude oil price for the last month.
Abdullah said the subsidy of 30 sen per litre for petrol would be maintained despite lower fuel prices.
On a proposal that Proton seek foreign partners, Abdullah said it was up to the company to consider any proposal.
Commenting on automotive giant General Motors Corp (GM)’s statement that it was still interested in collaborating with Proton, Abdullah said Proton could weigh such a proposal by itself.
“They can study it and then submit their views to the Government for consideration. I want Proton to make the consideration, not the Government deciding and then asking Proton to accept it.
“I will leave it to Proton because this is a business and management matter,” he told reporters after launching the Federal Territory Hawkers and Petty Traders Congress 2008 here yesterday.
Abdullah said Proton had proven itself in its turnaround plan and had launched new models including the Persona, which had good sales, and there were more models to come.
“I recently visited Proton and saw for myself the product of their research and development,” he said, adding that Proton had worked hard to improve its performance.
“Proton is able to fulfil our hope for a competitive and successful national car maker,” he added.
GM was reported yesterday to have said it was aware of the Government’s statement that Proton needed a foreign partner and that GM was still open to talks.
Its South-East Asia operations president Steve Carlisle said GM had left on good terms but was disappointed that a deal could not be struck between the two companies the last time.
He said GM would be able to make a financial commitment for a collaboration with Proton if it made business sense now.
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