Clean bill of health reflects financial discipline

SARAWAK has been given a clean bill of health for its financial statements for 21 consecutive years.
 
In stating this, Deputy Premier Datuk Amar Douglas Uggah Embas said Moody’s and Standard & Poor’s have reaffirmed the state ratings at A3 and A- with Stable Outlook, respectively.
 
Meanwhile, Rating Agency Malaysia (RAM) has reaffirmed Sarawak with a credit rating of AAA.
 
“As I mentioned in the Dewan Undangan Negeri sitting in November last year, Sarawak was accorded a clean certificate and an unqualified report for its financial account for the year ended December 31, 2022, by the Auditor General of Malaysia.
 
“These assigned ratings reflect sound financial performance and prudent budgetary practices by the state in managing its financial affairs,” he said during his ministerial winding-up speech at the House on Wednesday.
 
Noting the ongoing commitment to sustainability and efficiency, Uggah, who is the Second Minister for Finance and New Economy, reaffirmed the state government’s efforts to continue to reinforce strict financial disciplines and controls.
 
In this regard, he said a circular on prudent spending, Surat Pekeliling Setiausaha Kewangan Negeri Sarawak Bil. 5/2024: Garis Panduan Perbelanjaan Secara Berhemat Bagi Mengawal Perbelanjaan Awam Kerajaan Sarawak, has been issued to all state ministries, departments, local authorities, statutory bodies, and government-linked companies.
 
He asserted that this circular aims to instill financial discipline and provide clear guidelines for various expenditures, including overtime claims, official travel, asset management, utility usage, office supplies, meeting management, event organisation, and the implementation of development projects.
 
“Expenditures should be reasonable and prudent so that the distribution of resources can be optimised and managed more efficiently and effectively without compromising the delivery of public services.
 
“Compliance with this circular is critical in preventing unnecessary and extravagant expenditures by government machinery,” he added.
 
In light of this, Uggah stressed that the Sarawak government is committed to putting in place strategic measures aimed at strengthening financial discipline and management in all aspects.
 
He also urged controlling officers to demonstrate greater accountability, caution, and prudence in the spending of public funds.
 
“With a collective commitment to prudent financial practices, we will be able to sustain our financial health and equip Sarawak for any eventuality,” he said.