SEMATAN: Sarawak expects larger revenue from the State Sales Tax (SST) following the hike in oil prices.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg noted that world oil prices had risen to USD122 per barrel.
“The world oil price is currently at about USD122 per barrel, previously I estimated that it would go as high as USD70 per barrel,” he said when officiating at the launch of a pontoon at Sematan Waterfront today.
Alluding to a request by Tanjung Datu assemblyman Azizul Annuar Adenan for jetties at 15 villages in his constituency and the Lundu Mini Stadium to be upgraded, Abang Johari assured the projects would be done.
“This year there will be a balance (of revenues generated from SST), we will give the funding for building the jetties. All the wooden jetties will be replaced,’’ he said.
With Sarawak’s various revenue generating resources, Abang Johari expressed confidence that the state would be prosperous and have strong financial position.
He reiterated that the state would emulate Norway in having its own sovereign fund to safeguard the future generations.
“Previously, the Democratic Action Party (DAP) had alleged that Sarawak will be bankrupt (in three years time). I have been here for the past five years and we are not bankrupt.
“God willing, the state will see and generate more revenue. However, we must be in moderation and be prudent (with our finances),” he said.
