Sarawak Budget is positive

suppadmin | November 17, 2018

Sim Kiang Chiok, SHEDA Kuching Chairman expressed his views that the Sarawak budget is another one of the big positive steps towards restoring our rights as provided for in our Constitution where we are entitled to imposed Sales tax on our produce and extracted material such oil and gas. The 5% sales tax on oil, gas and petroleum products, he said, will help us in Sarawak to have the necessary resources to develop and to catch up with Malaya advance developed state.

“This is a forward moving budget for Sarawak. The biggest ever and we can expect more with the petroleum tax being imposed from now on, from all oil and gas produce from our territory. This budget keeps our economy growing in view of the disappointing federal budget for Sarawak that will provides for rural village upgrade, infrastructure project including bridges , water supply upgrade, agriculture, industrial estate, entrepreneur development, budget for social housing, upgrading and maintenance of villages, skill training, repair of building and quarters, school among a lot of goodies for Sarawakians.

“We will definitely benefit from this expansionary budget either directly or indirectly with the forecast of our economy growth of 5% for 2019 which is higher than the projected National growth forecast,” he added.

Sim believes that with the State government requested for three local bank licences for Sarawak our business could cater to our local smaller business conditions and the local business community will welcome this added assistance to help grow our SME sectors in our State.

He reckoned that with the construction of LRT for high traffic area such as Samarahan area it will resolve the traffic jams problem including bringing benefits to real estate by the transit – oriented development concept where new area can be developed into affordable homes and modern urban development.