KUCHING: Sarawak is able to provide millions of ringgits in assistance to help those affected by the COVID-19 pandemic due to its prudent financial management.
In stating this, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said that the state government under the various aid packages of the Bantuan Khas Sarawakku Sayang (BKSS), it has spent RM5.8 billion of its own fund besides the fund from the federal government.
“Just last month, I have given another RM 1 billion (under the BKSS 9.0) to help our people and the industries, small and medium enterprises (SME) including the construction sectors which are still impacted by the pandemic.
“If we don’t have the money, I don’t think we can do BKSS. But thank God, we are able to do it and this is because Sarawak has managed its money prudently,” he said.
He said this when officiating at the launching ceremony of Bersama InvestSmart @ Sarawak 2022 organised by Sarawak Securities Commission (SC) a leading mall here today.
Abang Johari further said in terms of funding, there is a need to save money for the future.
“This is why the state is studying from the experts as we want to set up our sovereign wealth fund to make sure whatever surplus that we have, we can manage it prudently and professionally.
“It is important to save, as you know there is a trend of upward and downward growth in the economic cycle. So, when it goes down, it requires intervention. But, those with strong financial muscle are able to face the challenges especially during the pandemic,” he pointed out.
Therefore, he said, it was important for the younger generations to spend and invest their money prudently for their future.
“There is no doubt that if you want to be in a very good and comfortable position, you must be able to manage your finances prudently. If you overspend, it becomes a problem,” said Abang Johari.
Also present were Deputy Premier Datuk Seri Dr Sim Kui Hian and SC chairman Datuk Seri Awang Adek Hussin.
