Tuesday, June 17, 2008


Petronas donates most to Oil Heritage Fund


A big sum of donation for the Oil Heritage Fund comes from the Nation’s oil producer, Petronas. Second Finance Minister Tan Sri Nor Mohamed Yackop in disclosing this yesterday, said it was part of Petronas’ contribution to provide the quality of life not just for the present Malaysian population but also for the future generations. “Petronas contributes RM100 million to the Fund, and to date, we have close to RM5 billion, which is meant for our future generations,” he told the media after launching the Second Chief Executive Officer Conference 2008 on behalf of Deputy Prime Minister Datuk Seri Najib Tun Razak here yesterday. He added that allocation for development comes from various funds, such as the Government’s Budget where RM147 billion had been specifically allocated for transportation as well as basic necessities such as water, electricity and roads in rural areas. “Although priorities are given to develop rural areas but at the same time, the urban needs should not be neglected. “For instance, the upgrading of roads. Many hours are wasted due to bad traffic jams on the roads in urban areas. This is quality working time and such waste is a loss not only to productivity but also to the Country. “We want an economy based on the people’s income while higher income requires higher productivity. But our productivity is affected by traffic jams, so we have to fix it for the good of all,” he said. On another note, Nor Mohamed said the Government is working on eradicating hardcore poor by the year 2010. “We do not want to see anymore hardcore poor by the year 2010 and this is what has been expressed by our Prime Minister,” he said.