Sultan: Ensure rights of TPC are protected

‘Terengganu’s sovereignty as top oil producer must be kept’

KUALA TERENGGANU: The Sultan of Terengganu Sultan Mizan Zainal Abidin wants the rights of the Terengganu Petroleum Council (TPC) to be protected to ensure the state’s sovereignty as the main oil and gas producer in Peninsular Malaysia is maintained and bring benefits to its people.

In his address at the opening of the state legislative assembly at Wisma Darul Iman here, the Ruler expressed hope that the TPC, which was set up in May last year, would be made a platform for the discussion of issues and claims pertaining to oil and gas royalty owed to the state, including claims to the Bertam oil wells.

“I also hope that the council will create job and business opportunities for the people of Terengganu within the oil and gas sector,” he said yesterday.

Sultan Mizan said the state revenue committee, which was set up last year, would help to ease Terengganu’s dependency on oil and gas royalties after it suffered an annual 40% drop in revenue due to volatile global oil prices.

He added the committee should be more aggressive in searching for ways to increase revenue for the state.

He said the committee could study mechanisms used in other states and make adjustments to the Terengganu’s requirements in hopes of increasing revenue, he said.

“Additionally, the state could leverage on its natural beauty, including its beaches and islands, to attract more tourists to come here,” he said.

Sultan Mizan hoped that the state would continue to gain good economic growth after it recorded a 5.9% and 3.1% growth in gross GDP in 2016 and 2017.

The increase, he said, was supported by the growth in the services, construction and agricultural sectors.

“It is my great hope that the state achieves a revenue of about RM1.8bil this year so that the income can benefit the state and the people,” he said.

He called on the state government to attract more investors to strengthen the manufacturing sector.

Sultan Mizan urged the 32 state assemblymen to put their political differences aside and work together for the betterment of the state.

He also called for better cooperation between the PAS-led state government and the Federal Government to improve the well-being of the people of Terengganu.