Petronas to contribute up to RM59bil to govt coffers this year

 

Petronas has projected total profit after tax for 2022 at between RM75 billion and RM80 billion. (AFP pic)

PETALING JAYA: Petronas forecasts it will be able to contribute between RM55 billion and RM59 billion to the federal government this year, says economic affairs minister Mustapa Mohamed.

In a written parliamentary reply to opposition leader Anwar Ibrahim (PH-Port Dickson), Mustapa said this sum includes contributions in the form of dividends, corporate and petroleum taxes, windfall tax, petroleum cash payments and export duties.

“From the estimated contribution of between RM55 billion and RM59 billion, the petroleum income tax (Pita) for 2022 is estimated to be between RM14 billion and RM16 billion,” he said.

Mustapa said Petronas’ projected its total profit after tax for 2022 to be between RM75 billion and RM80 billion.

He said this was based on its projections in the financial report in March, in which the oil and gas giant assumed that Brent crude oil prices would remain at around US$100 per barrel and that production would not be interrupted throughout the year.

Anwar had asked Prime Minister Ismail Sabri Yaakob to state Petronas’ projected total profit and Putrajaya’s projected total revenue from petroleum income tax for 2022. - FMT