PUTRAJAYA, March 9 -- Putrajaya will continue reducing its reliance on local oil and gas giant Petronas for revenue, with the sales and services tax (SST) set to generate additional revenue rather than a return to the goods and services tax (GST).

Sunday Star quoted Finance Minister II Datuk Seri Amir Hamzah Azizan saying that Petronas' contribution to government revenue had dropped to about 19 per cent to 20 per cent in 2023 from over 40 per cent previously.

"For future projections, we aim to bring this down to around 15 per cent to 16 per cent while simultaneously growing other sources of revenue," he was quoted saying.

Amir Hamzah also said that the Anwar administration's Madani Economy Framework emphasises economic diversification,...