Expert: 20% oil royalty not enough for Sabah


Ah, not enough. And where is the expert’s name in the article?

Dateline 2015-07-30, FMT:

The Sabah Government can generate RM7.2 billion a year from wielding ownership of the state’s oil and gas resources under the Federal Constitution Schedule 10 (Part V)(3) compared with the 5 per cent oil royalty of RM1 billion a year. “In fact, the oil royalty was no royalty at all but cash payment.”

Parti Kerjasama Rakyat (Pakar) Secretary-General Zainnal Ajamain was getting to the point that he wanted to make i.e. begging Petronas and the Federal Government for 20 per cent oil royalty, up from the measly present 5 per cent, should not arise. “The emergency laws were repealed on 24 November 2011. This means that we can exercise ownership of our oil and gas resources but provided we give up the 5 per cent so-called royalty option.”

Zainnal recalled that Chief Minister Musa Aman confirmed in the Sabah Assembly last year, in response to a question from Kapayan assemblyman Edwin Bosi, that all land matters within the state’s territorial waters automatically reverted to the Sabah Government following the repeal of emergency laws.

 

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