27-05-2025
Idris Jala proposes oil royalty council for fairer Sabah, Sarawak share
Published on: Tuesday, May 27, 2025
Published on: Tue, May 27, 2025 Text Size: KOTA KINABALU: Former federal minister Datuk Seri Idris Jala has proposed the formation of a national oil royalty council involving the Prime Minister, Sarawak Premier, Sabah Chief Minister, and Petronas to ensure fairer royalty distribution while sustaining Petronas operations. Idris suggested the council assess Petronas' annual operating and capital expenditure needs, allowing remaining profits to be shared with Sabah and Sarawak, The Borneo Post reported. Royalties could vary with oil prices, ranging from 10 percent at low prices to 20 percent at high prices. He emphasised that Sabah and Sarawak leaders want a strong federation, not Petronas' downfall, and clarified that Petros complements, not competes with, Petronas. Idris also recommended reinstating the GST to reduce reliance on Petronas for federal revenue. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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