KUCHING: The establishment of the Sovereign Wealth Future Fund is timely as it will make sure the future of Sarawak’s children is safeguarded and prioritised.

In stating this, Dr Simon Sinang Bada (GPS-Tebedu) added that the said Fund would be a very good instrument to manage and invest the surplus.

“We want our fund to grow to enable us to maximise our capital and at the same time to enable us to mitigate the impact of our depletable natural resources we are highly dependent on.

“This surplus needs to be managed properly so that the surplus will further generate income for our future generation,” he said while debating in support during the State Legislative Assembly (DUN) sitting on Tuesday (Nov 22).

Pointing out that such funds are typically created when governments have budgetary surpluses and have little or no international debt, he said that there are many other countries who have created their Sovereign Wealth Fund and have amassed huge wealth for their citizens and their future generations.

“With that fact, I stand firm to support this Sovereign Wealth Future Fund Board Bill, 2022,” he said.