Just another Malaysian Politician trying to pass life’s SPM (Survival, Petroleum & Money)
You know how in school there’s always that one super student best in class, sports captain, wins every competition, and still brings kuih for the teachers? That’s Petronas.
And now imagine the rest of us arguing over his winnings.
That’s kind of what’s happening with Malaysia, the Petroleum Development Act (PDA) 1974, and our dear class prefect Wan Fayhsal, who’s standing in front of the class going:
“Let’s not fight over this kid’s lunch money. Let’s support him, so all of us get free canteen meals tomorrow.”
Petronas = Class Genius with Foreign Scholarships
Let’s put this in simple terms:
- Petronas exports oil and gas.
- Foreign countries pay in USD or other strong currencies.
- Petronas converts this into ringgit (RM) to pay workers, taxes, and dividends to the government.
- That flow of foreign currency strengthens the ringgit.
It’s like Petronas winning international Olympiads and bringing home US dollars instead of trophies.
Why That Helps Your Teh Tarik Cost RM1.50 (Instead of RM4)
When Petronas earns more and brings in more USD, Bank Negara Malaysia has more reserves.
With strong reserves and export earnings:
- We can import stuff cheaper (like food, medicine, semiconductors).
- The ringgit stays strong.
- Inflation is controlled.
- And yes if necessary, we can afford to print more money in a healthy way, without it becoming Monopoly cash.
So basically oil = USD = stronger RM = potential to support more government spending without wrecking the economy.
So, Should We Be Arguing with Sarawak and Kelantan Over Pocket Money?
Not really.
Wan Fayhsal made it clear: Sarawak and Kelantan’s demands are valid but let’s not do it by cutting off Petronas’ legs.
“You don’t burn the school library just because you want more books.”
Instead, he says:
- Let Petronas thrive.
- Find win-win solutions (e.g., more jobs, infrastructure, education, or even profit-sharing deals).
- Increase Petronas profits, so everyone gets more without draining the tank.
It’s the difference between fighting over one slice of cake vs. baking a bigger one.
Lesson Plan: Print Money… Later
A lot of people laughed when Wan Fayhsal once mentioned “printing money” back in 2020. But here’s the thing it’s not crazy, if:
- You have strong reserves.
- Your economy is productive.
- Inflation is stable.
- And your national oil company is pumping profits like a powerlifter.
That’s why strengthening Petronas isn’t just about oil it’s about giving Bank Negara the economic muscles to print responsibly when truly needed.
So the real policy is:
💡 Strengthen exports. Build reserves. Earn first print later.
Final Bell Ring:
Petronas is not just our best student it’s our school’s prized scholarship winner in the global market. The more we support it through smart governance, fair state agreements, and long-term planning the more it gives back.
So instead of Sarawak and Kelantan fighting over royalties like kids over canteen coupons, maybe we should all sit down at the teacher’s desk and design a better rewards system for everyone.
And who knows?
One day we can print money responsibly not out of desperation, but because we did our homework.
P.S. If I were in charge of national economic policy, I’d make this article required reading in schools. Or at least staple it to everyone’s minyak receipt.
Annan Vaithegi (annanvaithegi@icloud.com) is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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