Sabah hoping govt will deliver on oil royalty promise

KOTA KINABALU: Sabah is expecting some kind of deal with the Federal Government by the end of the year over the promise to increase oil royalty.

Chief Minister Datuk Seri Mohd Shafie Apdal said the state had indicated to the government that something must be realised by this year.

“We have been having discussions with the Prime Minister, ” he said in response to news reports where Tun Dr Mahathir Mohamad was quoted as saying the increase of oil royalty from 5% to 20% was “not workable”.

During a dialogue with fund managers in New York, Dr Mahathir said the Federal Government realised that giving 20% royalties to Sabah and Sarawak would mean Petronas would no longer be an international company and could kill it.

He added that the Federal and state government were trying to work out how the Federal Government could give more money without undermining Petronas.

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