KUCHING - Sarawak Chief Minister Adenan Satem has confirmed that he will seek an upward revision to the present 5 per cent oil royalty “to spur its development under the 12th Malaysia Plan”.
He disclosed that the Sarawak government was still engaged in talks with the Federal government and Petronas, the national oil corporation, on the quantum of increase.
“We are not satisfied with the present five per cent,” he reiterated in a statement after an Aidilfitri gathering in Sebuya near here yesterday.
“Increasing the revenue from oil royalty would be one of the thrusts in the Sarawak government’s development planning.”
At the same time, added Adenan, Sarawak wants to participate in the oil and gas industry.
“We should be aggressive in the oil and gas industry,” he said. We should not just stand and stare.”
Adenan did not refer to the recent statements by the DAP Sarawak that he was misleading the people.
He implied that participation in the oil and gas industry, by way of a 10 per cent stake in Petronas gas projects in Sarawak, increased federal funds for development and spending on corporate social responsibility (CSR) projects, was equivalent to the 20 per cent oil royalty endorsed unanimously by the Sarawak Assembly.
Joe Fernandez
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