Kuala Lampur, May 4 -- The Petroleum Development Bill 1974 was moved in Parliament by none other than Abdul Taib Mahmud, then Minister for Primary Industries.

At the second reading of the Bill, the minister spoke at length the purport, intent and objective of the Bill.

Before he went on to explain the concept of "Production Sharing Contract" that was introduced by neighbouring oil producing country, Indonesia, and the challenges to be faced by a national oil company proposed under the Bill, the minister duly expressed the Federal Government's gratitude to the State Governments of Sarawak and Sabah.

He said:

"On behalf of the Federal Government, I would like to express my gratitude to the State Governments of Sarawak and Sabah for thei...