Sarawak wants higher oil royalty


Dateline 2014-08-27, Free Malaysia Today:

Sarawak Chief Minister Adenan Satem has confirmed that he will seek an upward revision to the present 5 per cent oil royalty “to spur its development under the 12th Malaysia Plan”.

He disclosed that the Sarawak government was still engaged in talks with the Federal government and Petronas, the national oil corporation, on the quantum of increase.

“We are not satisfied with the present five per cent,” he reiterated in a statement after an Aidilfitri gathering in Sebuya near here yesterday.

“Increasing the revenue from oil royalty would be one of the thrusts in the Sarawak government’s development planning.”

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