No need Federal allocation if Sabah gets 50pc oil royalty, says Jeffrey

50% Royalty? Pleeze…

Dateline 2012-02-16:

Sabah State Reform Party (STAR) on Wednesday said that if Sabah were to receive 50 per cent oil royalty from Petronas, it would not even need Federal allocation to develop the state.

Its Deputy Chairman, Daniel John Jambun said this in response to a statement by Sabah BN Secretary Datuk Abdul Rahman Dahlan who said that Sabah would be compromised if Federal allocation or funds under the Malaysia Plan is reduced so as to pay the proposed 20 per cent oil royalty.

“Abdul Rahman forgot that under the Tenth Malaysia Plan (10MP), Sabah and Sarawak combined, are getting only about RM9 billion as compared to about RM100 billion for the Peninsula.

“At this rate of allocation, Sabah is actually getting less than RM1 billion per year throughout the five-year Malaysia Plan.

“As such, the Federal allocations are not much and hardly fulfil all the development needs of Sabah,” he said in a statement.

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