KUCHING: Sarawak’s revenue base is expected to continue to strengthen and increase to RM16 billion this year.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg based his confidence on the encouraging state economic performance in the first three months of this year.
“At the recent Sarawak State Legislative Assembly (DUN) sitting, it was announced that Sarawak successfully collected revenue of RM4.798 billion during the month of January to March this year.
“So if you calculate on average, in the first quarter alone we have managed to collect that much. Let’s assume that RM4 billion is multiplied by four quarters, what is the amount? You can count it yourself,” he said.
He said this during a townhall session after his keynote address at the Sarawak Budget Discussion organised by Persatuan Mahasiswa Sarawak Universiti Malaya at Universiti Malaya (UM) in Kuala Lumpur on Saturday.
Commenting further, he said, the state’s revenue which is on a very good track through various new economic initiatives gives confidence that the state’s revenue forecast this year would be higher than last year which amounted to RM13.3 billion.
“With how it is, the expectation can be achieved. And this does not yet include our involvement in carbon trading, gas aggregators and many other clean energy fields,” he said.
He added that the excellent achievement was achieved as a result of the government’s continuous and innovative efforts in using resources through the rights enshrined under the law as well as involvement in the new economic sector.
“Basically what Sarawak is doing now is to be at the forefront of technology that allows us to add value to existing resources.
“Meaning, we must expand the economic base and resources. The source of the revenue should be the state’s right to be able to innovate because innovation is part of our culture,” he said.
During the DUN sitting on Wednesday (May 15), Deputy Premier Datuk Amar Douglas Uggah Embas said as of March 31, Sarawak had successfully collected RM4.798 billion or 38 per cent of the projected revenue.
He stated that revenue sources included state sales tax (SST) of RM1.462bil; cash compensation in lieu of oil and gas rights (RM1.234bil); and dividends of RM1.303bil particularly from Sarawak’s investment in MLNG Group of Companies.
Other sources included raw water royalty (RM162mil); interest income (RM304mil); forestry receipts (RM61mil); land premium (RM31mil); federal grants and reimbursement (RM24mil); and miscellaneous sources such as mining royalties, water sales and land rents (RM217mil).
