Terengganu govt to study 20% royalty: MB

MARANG: The Terengganu government will study the decision by the federal government to give 20% royalty to petroleum producing states based on the profit they made.
Mentri Besar Dr Ahmad Samsuri Mokhtar (pix) said in principle, the Terengganu government would only agree if it benefited the state.
"But, if the prime minister announced to give 20% royalty based on profit, the amount could be less or more than what we have calculated before.
"Therefore, before making any decision, we will have to look thoroughly into it," he told reporters at a fundraising event for education here today.
Yesterday, Prime Minister Tun Dr Mahathir Mohamad clarified that the 20% royalty payment to petroleum producing states would be based on the profit obtained from the state concerned.
In the Parliament sitting on July 19, Dr Mahathir said the Pakatan Harapan (PH) government was committed to fulfil the promises contained in its 14th general election manifesto, including on the 20% royalty payment to petroleum producing states in the country. — Bernama