Shafie: Paying 20% oil royalty won’t bankrupt federal govt

KOTA KINABALU: The federal government will not go bankrupt even if it pays out the 20% oil royalty to three oil producing states, said Chief Minister Datuk Seri Mohd Shafie Apdal.

The federal government was already earning three ways from the oil industry that includes 5% oil royalty, dividends from Petronas and also taxes, he said as he marked his 100 days in office yesterday.