Developing Sarawak: Abang Jo

suppadmin | November 6, 2018

Chief Minister Datuk Patinggi Abang Johari Tun Openg disclosed that this is be the first time Sarawak’s revenue has reached RM10.513 billion, which is up to 51 percent compared to last year.

Speaking at the DUN Budget yesterday, Abang Jo said with such revenue this will enable them to move forward to develop the State for the benefit of all Sarawakians.

He also disclosed that the tax revenue has been estimated to be at RM5.268 billion or 50 per cent of the total expected revenue in 2019 which comprises RM4.462 billion sales tax of which RM3.897 billion is from petroleum products, RM445 million is generated from crude palm oil or crude palm kernel oil, RM90 million is from lottery while the remaining RM30 million is from tyre.

From Forestry, a total of RM474 million of which RM267 million is expected to be contributed by forest royalty while RM207 million is from timber premium while, RM332 million will be from raw material and mining royalties, land rents and others.

The non tax revenue is expected to reach RM4.9 billion and will be derived mainly from cash compensation in lieu of oil and gas rights (RM1.99 billion), dividend income (RM1.5 billion), interest income (RM1.006 billion), land premium (RM250 million), cash compensation in lieu of import and excise duties on petroleum products (RM120 million) and others, including licences, service fees, permits and rentals (RM131 million).

Additionally, Non-Revenue Receipt is expected to be at RM9 million, mainly from forest liquidated damages, disposal of assets and forest compounds while Federal Grants and Reimbursements is expected to be at RM239 million.

On Operating Expenditure for 2019, next, a sum of RM10.391 billion has been proposed and out of this total allocation, RM2.841 billion is for operating expenditure which consists of RM232 million for Charged Expenditure and RM2.609 billion for Recurrent Expenditure.

Abang Jo also announced that RM7.3 billion is to be contribution to Development Fund Accounts to finance development projects and the proposed allocation of RM2.8 billion is for Operating Expenditure for year 2019, an increase of RM212 million compared to this year. With a surplus budget, he said this would allow the State to rebuild this financial reserve.