PBB deputy youth chief Fazzrudin Abdul Rahman (GPS-Tupong) chided state Pakatan Harapan chairman Chong Chieng Jen (PH-Kota Sentosa) for insinuating that Sarawak is tabling a budget without
the appropriate financial backing.
He defended Chief Minister Datuk Patinggi Abang Johari Tun Openg’s approach to generate funds through revenue re-engineering and alternative financial model, both of which were criticised by Chong.
“This is one of the ways we generate our funds for 2020. Recently the Kota Sentosa assemblyman said we are tabling a budget without the funds.
“The concept is clear as day. This accounting concept is unlike the accounting concept of ‘lie first and think later,” said Fazzrudin in a dig towards the Pakatan Harapan federal
government.
Fazzrudin asked whether Chong would only be satisfied if the money is brought to the august House in truckloads for him to witness it in person. “Save the foolishness for yourself,” remarked the Tupong assemblyman.
He also explained that the Development Bank of Sarawak (DBOS) which is under the control of Bank Negara focuses on approved projects by the state government.
“Before this, the state reserves are deposited to commercial banks to generate revenue through dividends and interests. Of course, the bank would use the funds to generate their own income.
“But if government agencies or statutory bodies take the money out for loans, they will be imposed interest.
“In other words, they are paying interests for their government money.”
Fazzrudin explained, with DBOS, the money can be used to generate income and the amount will be returned by DBOS to the state government in dividend.
“Other than that, the deposit can also be used to fund government projects. This is our concept of revenue re-engineering and alternative financial modelling applied by the state government,” he added.
