65 pct of budget allocated for rural devt
SELANGAU: The Sarawak government has allocated a total of 65 per cent of the 2024 State Budget for the development of rural areas. Minister in the Premier’s Department Datuk Seri John Sikie Tayai said that the focus in the budget is not only on basic needs such as roads, electricity, and water supply but also […]
Proposal to build drag race circuit for RM20 mln in each state not feasible
PUTRAJAYA: An allocation of RM20 million to every state for the purpose of building a drag race circuit as proposed by former Prime Minister Datuk Seri Ismail Sabri Yaakob would not be sufficient since the cost of maintenance would incur a big budget while aspects of security must also be given priority. Youth and Sports […]
No proposal to raise activation pricing of rubber production incentive for now
KUALA LUMPUR: The government does not propose to raise the activation pricing level (PHP) of the rubber production incentive (IPG) for the time being following the increase already made in Budget 2023. Deputy Plantation and Commodities Minister Siti Aminah Aching said the government has always been concerned about the welfare of rubber smallholders whose income […]
SME Bank to empower social enterprises among MSMEs
KUALA LUMPUR: SME Bank will empower micro, small and medium enterprises’ (MSMEs) social enterprises and sustainable business efforts following the recent Budget 2023 announcement, with the introduction of three new programmes worth RM31 million. In addition to the existing financing facilities valued at RM1.34 billion, the government has announced an additional RM9 million for […]
Export ambition dependent on allocations
KUCHING: Sarawak hopes to be a nett food exporter by the year 2030, said Food Industry, Commodity and Regional Development Minister Datuk Seri Dr Stephen Rundi Utom. “To achieve that, we need big allocations from the state and federal governments,” he said. In this context he said provisions under the revised Budget 2023 for agro-food […]
Banks breathe sigh of relief amid absence of prosperity tax
KUALA LUMPUR: Banking counters, which have been in a downtrend for the past two weeks, are seen to be recovering with the absence of any prosperity tax in Budget 2023. Rakuten Trade Sdn Bhd’s vice-president of equity research, Thong Pak Leng, said there were concerns about a possible windfall tax imposed on the sector before […]
Premier welcomes allocation in Budget 2023
KUCHING: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg welcomes the revised Budget 2023 particularly on the upgrading of dilapidated schools and clinics. He thanked Prime Minister and Minister of Finance Datuk Seri Anwar Ibrahim on the allocation of RM5.6 billion to Sarawak. “I am grateful for the allocation even though the amount is […]
Budget 2023 responsive, prioritises people, says Aaron
PUTRAJAYA: Budget 2023’s allocations and initiatives for the National Unity Ministry are responsive, responsible and significant for the community and society in line with the aspirations of Malaysia MADANI, said Datuk Aaron Ago Dagang. The National Unity Minister welcomed the budget announcement, saying the ministry was committed in helping the government to achieve the aspirations […]
Engine of growth for agri-commodity industry
KUCHING: Budget 2023 will drive the growth of the agri-commodity industry while benefiting Malaysian smallholders. Deputy Prime Minister Datuk Seri Fadillah Yusof said the main focus in Budget 2023 is to empower the agri-commodity sector and ensure the country’s competitiveness can be improved. A news report from Sarawak Public Communications Unit (UKAS) quoted him as […]
Financial aid, subsidies to B40 and civil servants to benefit consumer sector
KUALA LUMPUR: The consumer sector will benefit from the continued assistance provided in the revised Budget 2023, MIDF Research said. The research house said various financial aid, subsidies and initiatives provided to the B40 (bottom 40 per cent) income group, and the civil servants will support domestic demand and boost consumer spending on essential items. […]
