KUCHING: The recent passing of the Sarawak Sovereign Wealth Future Fund Board Bill during the 19th State Legislative Assembly (DUN) sitting, will of course, put Sarawak ahead and as a role model to other states in Malaysia.
Three academicians when contacted by New Sarawak Tribune recently, are of the opinion that it is timely and a good move by the Sarawak government.
Universiti Malaysia Sarawak (UNIMAS) Faculty of Economics and Business senior lecturer Prof Dr Mohamad Jais was of the view that the return from the state’s surplus capital would be maximised and used to fund development, education and other projects to benefit the people.
“Furthermore, Sarawak cannot depend on natural resources revenue only and they must diversify its resources to generate more revenue to the state.
“Sovereign fund is the answer to this and if professionally and prudently managed, it will add more revenue to the state’s coffer,” he said, adding that it has proven success in the western countries.
Mohamad Jais pointed out that the fund would put Sarawak ahead of other states as it proved that Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg and his cabinet had a noble vision to develop the state to the fullest.
Meanwhile, University of Technology Sarawak (UTS) vice-chancellor Datuk Dr Khairuddin Abd Hamid said the fund was a good idea besides being timely for the long term.
“However, my concern is the management of the Sarawak Sovereign Wealth Future Fund. I believe it should be managed by real professionals.
“Of course, the selection (of who to manage the fund) will be up to the Premier as he knows who is up for it,” he said, hoping for maximum returns for the future generation.
UNIMAS Faculty of Language and Communication lecturer Dillah Tuah said the state would have a strong Sovereign Wealth Fund if it is managed transparently and professionally.
“For the people of Sarawak, this fund will benefit the development of human capital through education, talent development and further drive the socioeconomic improvement of the people.
“This fund will not only be a role model for other states, but it plays an important role in driving towards the well-being and progress of the people of Sarawak.
“Most importantly, this fund can provide appropriate benefits to the people of Sarawak as a whole no matter where they are,” he said.
