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Published: Sunday July 13, 2014 MYT 12:00:00 AM
Updated: Sunday July 13, 2014 MYT 8:45:40 AM

Formula to address oil royalties

KOTA KINABALU: A formula is being worked out to address the call to increase oil royalties for Sabah, Prime Minister Datuk Seri Najib Tun Razak said.

The Government, he said, together with Petronas, would decide on various methods to improve Sabah’s economy.

“We have been concerned about the issue of oil royalties in Sabah and as an immediate solution, Petronas will increase its corporate social responsibility (CSR) programmes in Sabah,” he said.

“We will be announcing several other approaches which can help Sabahans in the oil royalties issue,” he added.

Najib explained that there were many approaches which could be applied to it, but not necessarily increasing the percentage of oil royalties as mooted by the Opposition.

He said Petronas would help more rural students, provide more scholarships and increase its funding in its CSR programmes here, among others.

“This is not about getting contracts. It’s about giving and creating value,” he said at the breaking of fast with Sabah Barisan Nasional members at a hotel here yesterday.

Najib also said that the Federal Government was taking several measures to step up security in the east coast of Sabah.

He said the navy would deploy the Bunga MAS 5 vessel at the Malaysian-Philippine border to curb the movement of cross-border criminals like kidnappers.

He said that two used Petronas oil platforms would also be placed in Semporna and Lahad Datu in six months’ time as a last defence.

He said these oil platforms would be equipped with radar systems for 24-hour monitoring along the borders.

Najib also said that fixed routes to any Eastern Sabah Security Zone had to be followed so that movement in and out of these areas could be monitored.

“However, we need all the cooperation we can from the people of Sabah to safeguard the state’s security and not to leak information or national secrets to our enemies because whatever technology we use cannot work if information is leaked,” he said.

Also present was the Prime Minister’s wife Datin Seri Rosmah Mansor as well as Chief Minister Datuk Seri Musa Aman and his wife Datin Seri Faridah Tussin.

Earlier at the event, Najib was given a briefing on Sabah’s developments. He then held a meeting with Barisan component party members here.

Najib and Rosmah also presented assistance from Pusat Zakat Sabah to orphans and the elderly.

Tags / Keywords: Politics, Sabah, Prime Minister, Najib Tun Razak, economy, oil royalties


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