PETALING JAYA: The new carbon tax announced in Budget 2025 is a call from the government for the oil and gas services and equipment industry to participate in the energy transition.
"MPRC commends Budget 2025’s focus on a green, digital, and resilient future that includes all Malaysians as we aim for high-income status. Many of the initiatives announced under Budget 2025 will create opportunities for the OGSE sector, especially as we continue to tackle the energy transition and move higher up the green value chain," he said.
"Expanding tax incentives for downstream carbon products under the New Investment Incentive Framework underscores Malaysia’s understanding of the importance of CCUS in achieving net-zero emissions. "These will benefit the OGSE sector in managing the increasing requirements to comply with sustainability, which is crucial for accessing finance and investments," Mohd Yazid said.