The endless polemic of whether Anwar Ibrahim can lower the price of fuel, the crux of the matter is the availibility of money. Let us consider the virtually bottomless coffer of PETRONAS and other sleight of hands where our leaders, past and present had utilised to finance, bail out, cover up failed projects, wastage or mismanagement. Thus, Anwar can have access to money out there that other leaders did to make problems of their own making to vanish. Consider the following blog:

Those who are sceptical how Anwar Ibrahim could reduce the petrol price, perhaps the few reasons below could change your mind. The list is not even barely exhaustive as these are the ones uncovered – the tip of the ice-berg – if you want to put it! What lies beneath could be much larger:-

1.The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion (RM3.2 billion in 2008 ringgit)

2.The Maminco attempt to corner the world tin market in the 1980s is believed to have cost some US$500 million. (RM1.6 billion)

3.Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s.

4.Perwaja Steel resulted in losses of US$800 million (RM2.56 billion). Eric Chia, was charged with corruption for allegedly steering US$20 million (RM64 million) to a Hong Kong-based company

5.Use of RM10 billion public funds in the Valuecap Sdn. Bhd. operation to shore up the stock market

6.Banking scandal of RM700 million losses in Bank Islam

7.The sale of M.V. Agusta for one Euro

8.Wang Ehsan from oil royalty on Terengganu RM7.4 billion from 2004 – 2007

9.For the past 10 years since Philharmonic Orchestra was established, this orchestra has swallowed a total of RM500 million

10.In Advisors Fees, Mahathir was paid RM180,000, Shahrizat Abdul Jalil (women and social development affairs) RM404,726 and Abdul Hamid Othman (religious) RM549,675 per annum

11.The government has spent a total of RM3.2 billion in teaching Maths and Science in English over the past five years. Out of the amount, the government paid a whopping RM2.21 billion for the purchase of information and computer technology (ICT) equipments which it is unable to give a breakdown.

12.The commission paid for purchase of Jets and Submarines to two private companies amounted to RM910 million.

13.RM100 million bill to compensate Gerbang Perdana for the RM1.1 billion “Crooked Scenic Half-Bridge”

14.RM1.3 billion have been wasted building the white elephant Customs, Immigration and Quarantine (CIQ) facilities on cancellation of the Malaysia-Singapore scenic bridge

15.RM 100 million on renovation of Parliament building and leaks

16.National Astronaut Programme – RM 40 million

17.National Service Training Programme – yearly an estimate of RM 500 million
18.Eye on Malaysia -RM 30 million and another RM5.7 million of free ticket

19.RM 4.63 billion, ’soft-loan’ to PKFZ

20.RM 2.4 million on indelible ink

21.Samy announced in September 2006 that the government paid compensation amounting to RM 38.5 billion to the highway companies. RM 380 million windfalls for 9 toll concessionaires earned solely from the toll hike in 2008 alone.

22.RM32 million timber export kickbacks involving companies connected to Sarawak Chief Minister, Tan Sri Taib Mahmud and his family

Bailouts -
23.Two bailouts of Malaysia Airline System RM7.9 billion
24.Putra transport system, which cost RM4.486 billion;
25.STAR-LRT bailout costing RM3.256 billion;
26.National Sewerage System costing RM192.54 million;
27.Seremban-Port Dickson Highway costing RM142 million;
28.Kuching Prison costing RM135 million; and
29.Kajian Makanan dan Gunaan Orang Islam costing RM8.3 million.
30.Le Tour de Langkawi costing RM 3.5 Million

31.Wholesale distribution of tens of millions of shares in Bursa Malaysia to cronies, children and relatives of BN leaders and Ministers worth billions of ringgits.

32.APs scandal had been going on year-after-year going back for more than three decades, involving a total mind-boggling sum of tens of billions of ringgits

33.Alienation of tens of thousands of hectares of commercial lands and forestry concessions to children and relatives of BN leaders and Ministers worth tens of billions of ringgits

34.Wastages and forward trading of Petronas in the 1990s based on the low price of oil then. Since the accounts of Petronas are for the eyes of Prime Minister only we have no idea of the amount. Whatever amount, you bet it is COLLOSSAL!

In Time Asia magazine issue on March 15 2004, South East Asian economist at Morgan Stanley in Singapore Daniel Lian, figures “that the country may have lost as much as U$$100 billion (RM320 billion) since the early 1980s to corruption.”