Petronas misunderstood 20% oil royalty for state policy’ – Rafizi


Puhleez…

Dateline 2012-10-13:

Pakatan Rakyat’s pledge to give 20 percent oil royalty instead of the current 5 percent to oil producing states will not incur extra burden to national oil firm Petronas, said PKR strategic director Rafizi Ramli today.

He said according to the new deal, the coalition will use Petronas’s current contribution of RM70 billion every year to the Federal budget to make up for the additional 15 percent revenue, and not by altering any present tax structure imposed on the company.

Petronas yesterday criticised PR’s plan to increase royalty payment for oil producing states, saying it could jeopardise its business and profitability and tax payments due to lower income.

…

 

This entry was posted on Saturday, November 10th, 2012 at 6:00 am and is filed under Malaysia, Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a comment