3 days ago
PETRONAS terminations should be gradual, give training, says Muhyiddin
PETALING JAYA: The planned layoff of 5,000 PETRONAS employees should be done gradually, says Tan Sri Muhyiddin Yassin.
"The terminations should be gradual, allowing for training in entrepreneurship skills and capital assistance to venture into businesses matching their qualifications," said the Perikatan Nasional chairman on Facebook on Wednesday (June 11).
He said that although these employees are contract workers, they have served PETRONAS for a long time and have families to support.
Muhyiddin suggested using funds meant for training Bumiputra entrepreneurs for this purpose, as it is the government's responsibility to address the issue.
"There is no denying that PETRONAS faces significant financial challenges, with post-tax profits dipping by 32% from RM80.7bil to RM55.1bil compared to the previous year,' said Muhyiddin.
"In the face of global challenges, falling oil prices, and the transition to renewable energy, PETRONAS needs a long-term plan to remain sustainable and competitive," he added.
Muhyiddin said that as a nation-owned company contributing large dividends to the government and playing an important role in national development, the government must always protect the interests of PETRONAS and its employees.
"Thus, it is reasonable for the government to immediately present PETRONAS's economic plan and the direction of the state's oil and gas industry," he added.
