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KOTA KINABALU: Pakatan Harapan must keep his election promise and pay 20% oil royalties and not make a profit, says Dr. Datuk Dr. Jeffrey Kitingan
Sabah Leader of the Opposition made it clear that "For ordinary Sabahans and Sarawakians, the explanations given as to why the government can not pay 20% of royalties on the basis of gross production are merely a 5% fee increase. He said that even if Petronas had to pay Sabah and Sarawak 20% on the basis of profits, there was no reason for the company to retain 80% of the profits, considering that oil and gas were extracted from his statements.
"This is only a tenuous excuse for delaying its implementation of paying 20% royalties," said Dr. Jeffrey about the current debate on the subject. Explanation of Pakatan
Dr. Jeffre It also challenged the assertion of the Minister of Economic Affairs, Datuk Seri Azmin Ali, that the 20% profit-sharing would require an amendment to the 1974 Petroleum Development Act, which would require more time. ] Dr. Jeffrey argued that section 4 of the PDA74 states that the cash payment should be agreed between the government and the government of the state concerned.
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