BY NATASHA JEE & AMYRA VARKISA
KUCHING: The Sarawak government under Gabungan Parti Sarawak (GPS) is committed to provide a bright future for its younger and future generations, and one of the ways is through the establishment of a sovereign wealth fund.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg pointed out this was in tandem with the state’s economic development.
“When managing a state or country, there must be new ideas, we cannot be static. And this is why Sarawak is looking into forming its sovereign wealth fund,” he said when officiating at the Parti Pesaka Bumiputera Bersatu (PBB) Satok Ramah Tamah Aidilfitri programme at Raia Hotel on Monday (May 16).
He explained that with the sovereign fund, the state’s income would be well managed for Sarawakians.
“When the economy grows, and the revenue increases, this will then provide returns to the state (through the sovereign fund), just like what is happening in Norway where the value of the fund has increased to 1.3 trillion in 25 years,” he said.
He said for Sarawak, the research was still ongoing and a decision would be made after the study is completed.
“We hope Sarawak will be like Norway too so that it can manage its fund well for the benefit of our future generation,” he said.
The premier also stressed that management of its assets must be transparent and prudent.
Meanwhile, earlier during the PBB Satok Branch triennial delegates meeting, Abang Johari, who is also GPS chairman, conveyed his appreciation to Sarawakians for the big mandate given to the party.
“I also believe that you give your closest cooperation to Satok assemblyman Datuk Ibrahim Baki to carry out his duty to serve the people in Satok,” he said.
He also thanked PBB senior vice president and Petra Jaya MP Datuk Seri Fadillah Yusof for helping the party in the Satok area.
“I believe Ibrahim and Fadillah will continue the development and bring more development to the people,” he said.