Terengganu Menteri Besar Ahmad Said said the nine-year-old suit against the federal government for withholding oil royalties will be withdrawn in March...“Under our arrangement with Petronas, they are suppose to pay us twice a year - in March and in September,” he said in reference to the five percent royalty which the company is to pay to the oil-rich state...If all goes to plan, the Terengganu government should assume full control of the oil royalties, estimated at about RM1 billion annually, by March. The federal government had in 2000 withdrew payment of oil royalties months after PAS took control of the state in the 1999 general elections. Subsequently, the then-PAS government filed a suit against the federal government for denying oil royalties, which it argued was meant to be a punishment to the opposition-controlled state...However, even after BN had recaptured Terengganu in 2004, the federal government did not restore oil royalty payments to the state government. (Malaysiakini: T'ganu to withdraw oil royalty suit)
Thanks to PAS for filing the suit. Nine years loss of income (RM9 billlion in total?) is a lot of money.
Thanks to PAS for filing the suit. Nine years loss of income (RM9 billlion in total?) is a lot of money.
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