Tun Mahathir was reported by Reuters a few day ago to have said that the Federal Government was considering selling off stakes in PETRONAS to states where the giant Petroleum company was operating.
Though this most recent announcement was said to be due to Federal Government needs for cash, it is quite obvious that the move is made subsequent to agitations in the two Borneo States for greater share or even control of the Petroleum Industry altogether.
According to respected opinions in the legal fraternity in these Borneo States, these claims, in particular the vocal and firm stand of the Sarawak Government, are not without merit given the controversial circumstances the Federal Government annexed their Petroleum Resources. Of course, the Federal side as usual has its own legal and constitutional experts who argued otherwise.
My recent observation of public opinions in Sarawak are mixed, either welcome the offer or dismiss it altogether as another ruse on the part of the Federal Government to turn their attention away from their fight over those resource. Even those who welcome it mostly cautioned that any acceptance must not compromise the fight under MA 63 under what ever circumstances.
There is a cautionery opinion that if Sarawak is to buy into PETRONAS, the State has to make sure its interest is well protected in the company, including a fair representation at the board level and a Deputy President post from the state.
Some extreme views even see it as Federal attempt for a backdoor legitimacy act over Sarawak Petroleum Resources. Don’t blame them for the trust deficit, given the way how the Pakatan government blatantly reneged on their promises made during the last General Election.
Even the recent claim that PETRONAS cannot even afford to pay the 5% Sales Tax imposed by Sarawak, is mainly perceived in the state as nothing but a lame excuse. How can, PETRONAS having siphoned hundreds of billions away from Sarawak since the last forty five years, and still happily doing so, can’t even afford a meagre amount for the state, yet could easily finance the Federal Budget year after year, together the additional RM 35 bil in the 2019 budget. Don’t they have moral conscience? Sarawakians might have really been stupid for a long time, as generally perceived in Malaya, but not now, hopefully.
Personally, while I feel that Sarawak must continue with its fight in court over the 5% sales tax, as well as the primary fight under MA 63, we should also look at the offer Made by Tun Mahathir. It should boil down to the appropriate size of stake to take and it price, bearing in mind the 40% share of resources Sarawak contributes to the country. Otherwise, without any compromise, this issue may drag on with escalations of emotions along the way. Before the more extreme forces gain upper hand that threaten the country’s security and intergrity, we should ponder some kind of compromise.
.
.
DAH IKHWAN
