Tengku Zafrul: Govt committed to ensuring Petronas returns to profitability | Malay Mail

Sunday, 06 Sep 2020 01:31 PM MYT

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the loss announced by Petronas two days ago were due to the fall in oil prices but for now they have shown an increase. It was the first quarter the national oil and gas company recorded a loss since the fourth quarter of the financial year 2015.

He said the loss suffered by Petronas, however, would not affect the country’s development as the government has undertaken several initiatives to stabilise the economy and generate revenue. He asserted that the government does not rely only on Petronas’ resources, instead it also has other sources of revenue, as the national oil company contributes less than 20 per cent.

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