Hamzah warns Putrajaya against 'slaughtering golden goose' with GLC, GLIC demands

Opposition leader Hamzah Zainudin has expressed concern that Malaysia's key strategic institutions, such as Petronas, Tenaga Nasional Bhd, and KWAP, should not be burdened with political decisions. These entities, referred to as the nation's "golden geese," must be allowed to focus on their core functions without being forced to execute government directives that could potentially harm their financial health.

During a debate on the 2027 budget in the Dewan Rakyat, Hamzah questioned the involvement of these institutions in various development initiatives. He specifically pointed to Petronas, highlighting the significant dividends it has paid to the government, totaling over RM163 billion from 2023 to 2027. Hamzah argued that Petronas requires substantial resources for strategic investments, including projects like phase two of the LNG Canada project, and operations in Suriname, Turkmenistan, and Pengerang.

He emphasized that the company's primary responsibility is to explore and provide energy resources for the future, and its decisions should be based on returns, not political directives.

Furthermore, Hamzah criticized the government's decision to increase the electricity bill protection threshold for domestic consumers from 600kWh to 800kWh per month. This change has reportedly resulted in Tenaga Nasional Bhd (TNB) bearing a burden of RM150 million in costs. He questioned KWAP's (Retirement Fund Inc) involvement in development initiatives, asserting that the institution's mandate is to provide safe returns for retirees, and it should not be tasked with political decisions.