Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg has successfully achieved a major objective of his administration by significantly increasing Sarawak’s revenue. Since taking office in 2017, the state’s revenue has nearly doubled in quantum.
Sarawak Business Federation (SBF) secretary-general Datuk Jonathan Chai stated that it would not be surprising if the state’s revenue collection exceeds RM12bil this year.
“Our actual revenue performance for the financial year in 2022 has surpassed its projected revenue by 17 per cent from RM10.2bil to RM11.2bil, the highest revenue performance ever achieved by Sarawak,” Chai noted.
“I must commended the Premier’s ability to ‘look for money’ for Sarawak, particularly through the realisation of the state’s rights to impose the State Sales Tax (SST) under the Constitution, which has diversified and widened the state’s revenue sources,” he told New Sarawak Tribune on Thursday (Aug 10).
With the significant increase in revenue, Chai highlighted that the state government now has greater capacity and capability to implement projects aimed at improving the standard of living for Sarawakians, especially those in rural areas.
“When you have more money, more things can be done. That is why we could afford to table our state budget which ran over RM10bil for the past few years, something unheard of before.”
He also emphasised that when the government undertakes more projects, the business community benefits from the spillover effects. This includes contractors, suppliers of building materials, consultants, logistics and transportation companies, among others, which are involved in project-related activities.
Chai further explained that workers engaged in these projects spend their wages within the domestic economy, creating multiplier effects throughout various sectors.
“Of course, other than spending on project implementation, we hope that a portion of the revenue would be allocated for investments through the sovereign wealth fund expected to be established by the end of the year.
“Hopefully, a portion of the investment-generated income is distributed to all Sarawakians at regular intervals, ensuring shared prosperity.
“Above all, we hope that the revenue collected will be managed and spent wisely.”
