KUCHING: Sarawak has collected a revenue of RM5.833 billion as of the third quarter of this year, said Chief Minister Datuk Patinggi Abang Johari Tun Openg.
He said that the collection of revenue was mainly from major sources such as the State Sales Tax (SST) of RM2.395 billion; cash compensation in lieu of oil and gas right of RM1.287 billion; dividend of RM720 million; and interest and return from investment of RM325 million.
“Other sources of revenue are from the federal grants and reimbursement of RM235 million; forestry receipts of RM223 million; land premium of RM212 million; cash compensation in lieu of important and excise duties on petroleum products of RM120 million; raw water royalty of RM145 million; and other sources such as mining royalties, water sales and land rents of RM171 million,” he said.
Abang Johari said this during the Special Meeting on the 2022 State Budget with Sarawakian lawmakers at Borneo Convention Centre Kuching (BCCK) on Tuesday (Oct 12).
He revealed that the imposition of the SST on liquefied natural gas on Jan 1, 2019 had, so far, contributed to a total revenue of RM6.775 billion for the state.
“This source of revenue has become the major contributor to the overall state revenue,” he said.
On the 2021 ordinary expenditure, Abang Johari said, it has been revised upwards from RM9.832 billion to RM11.644 billion, an increase of RM1.812 billion or 18 percent mainly to cater for the Bantuan Khas Sarawakku Sayang initiatives.
“Up to Sept 30, 2021, an amount of RM7.314 billion of ordinary expenditure or 63 percent had been expended,” he said.
The chief minister addded that as of Sept this year, the state had incurred a development expenditure of RM2.565 billion.
“The lower-than-expected expenditure was mainly due to the slow progress in the implementation of projects as a result of the pandemic.
“However, with the reopening of the economy, expenditure is expected to increase as development momentum continues to pick up towards the end of the year,” said Abang Johari.
