‘5-plus-20’ formula for Sarawak

Dateline 2018-07-31, Borneo Post:

The Pakatan Harapan (PH) federal government has altered its promise of 20 per cent oil and gas royalty to Sarawak, after the Sarawak government chose not to accept the condition set in their ‘New Deal Agreement’ prior to the 14th general election.

PH Sarawak chairman Chong Chieng Jen, who announced this to reporters outside Parliament in Kuala Lumpur yesterday, said while the oil and gas royalty will be retained at five per cent, the state will receive an additional 20 per cent in oil profits.

According to him, the promises of 20 per cent of oil and gas royalty to Sarawak and 50 per cent of tax revenue collected in Sarawak to be returned to the state come with an underlying condition, in that the Sarawak government must use the funds on education and healthcare development.

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