KUCHING: The Sarawak Government will no longer provide allocations for Government-Linked Companies (GLCs) namely Sarawak Economic Development Corporation (SEDC) and Bintulu Development Authority (BDA) from 2027 onwards.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the move would enable the state government to strengthen its financial position while the GLCs expand themselves into sectors that can give them returns, at the same time, expand their economic activities in the whole of Sarawak.
Therefore, in Sarawak, he said, allocation of funds would only be given to the state’s departments while GLCs would be on their own to find their capital outlay, multiply their investments and explore businesses that would give them returns so they could give dividends to the government.
“This means that they have to find their own allocation just like other companies. If this approach is not taken, they will be very comfortable. After all, as GLCs, they can ask money from the government if there is any shortfall.
“That is why I asked them to explore how to get extra fund through their economic activities to get their returns and get out of the normal mindset.
“I also told the GLCS that they must know the circular economy and also the economy based on green energy. Alhamdulillah in this, I see that our GLCs has accepted this challenge in their management,” he said.
He said this when he officiated at the National Audit Conference (PJK) 2024 at Borneo Convention Centre Kuching (BCCK) here today (June 25).
Abang Johari was confident that with such an approach, both GLCs and the state government would be financially strong in the long run.
“InsyaAllah, our economy can be managed well. Moreover, with this, the state government will have more savings while also be able to use our available income to upgrade infrastructure and also for strategic investments to benefit our people especially in providing water and electricity, roads and upgrade the dilapidated schools and clinics in the state,” he said.
