KUCHING: A Sarawak-based political party has suggested that the Anwar Administration create a minister of oil portfolio as is the practice in several oil-producing countries.
Sarawak Aspiration People’s Party (ASPIRASI) president Lina Soo said the reason based on the argument that oil and natural gas (O&G) is a major contributor to the federal coffers, accounting for about a quarter of its Gross Domestic Product (GDP).
Since the 1970s, Malaysia had for decades been dependent on O&G for its bulk of revenue to fund the country’s development and drive its industries.
“The position of minister of oil must be helmed by a Sarawakian because Sarawak is the major producer of O&G,” says Soo.
“For Sarawak, it is more meaningful to hold the position of minister of oil to safeguard Sarawak’s O&G resources than be DPM with no real powers, except for window dressing purpose,” she added.
Meanwhile, Soo also appealed to Prime Minister Datuk Seri Anwar Ibrahim to remove the cloaks of secrecy surrounding Petronas.
Soo made reference to the stunning revelation published in Sabah Daily Express on May 15 2020 when former Petronas founding chaiman and CEO Tengku Razaleigh Hamzah at UMNO’s 74th anniversary disclosed that Petronas generated profits of 90 billion annually of which 40 billion was given to the UMNO administration, amounting to more than $2 trillion over 30 years.
Sarawak meanwhile, was given a measly five percent and deprived of development which had resulted in Sarawak being one of two less developed states in the federation as cited by World Bank reports.
She also wants parliament to revisit the Petroleum Development Act and regularise it as a federal law applicable only to the states of Malaya but unconstitutional and inoperative to Sarawak as the state is protected by the Malaysia Agreement 1963 and Sarawak Constitution and has ownership and economic rights over our own natural resources.
