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Sovereign fund will pave way for free education

SIBU: Free education for all citizens in the state is expected to become a reality with the establishment of a sovereign fund in Sarawak. The Gabungan Parti Sarawak (GPS) government is expected to present a new Bill for its establishment the State Legislative Assembly sitting this November. According to Deputy Minister of Public Health, Housing, […]

Sovereign wealth fund – how it benefits Sarawak?

KUCHING: What is a sovereign wealth fund? It’s a state-owned investment fund run on behalf of the people, comprising money generated by the government, often derived from a country’s surplus reserves. Prof Geoffrey Williams from Malaysia University of Science and Technology explained that the fund usually obtained the seed money from commodity sales such as […]

Sovereign investment fund being studied

THE state government is still studying the idea of establishing its own sovereign investment fund, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. He said more studies had to be carried out to ensure the best model and adoption of robust international standards. “By establishing the sovereign investment fund, we will build up […]

Senator proposes for Sarawak to collect own sales tax

KUCHING: A Senator has proposed that Sarawak collects its own sales tax to offset the federal tax revenue. Robert Lau Hui Yew said it was time for Sarawak to collect own sales tax and the amount paid by Sarawakians and Sarawak based companies. “Sarawak has her own comptroller of tax. “Use the power. This can […]

Experts to advise state on sovereign fund

KUCHING: The Sarawak Government is wasting no time to ensure one of its pledges in its election manifesto, which is to set up the Sarawak Sovereign Wealth Fund, becomes a reality. Chief Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg said the fund would be set up once experts were appointed to look into […]

Place O&G revenue in sovereign fund for future

KUCHING: Seventy-five percent of the state’s oil and gas revenue obtained from onshore oil and gas exploration through Petroleum Sarawak Berhad (Petros) should be kept in a sovereign fund, opined political pundit Datuk Peter Minos. He said the remaining 25 percent should be put into current spendings for development in addition to the interests and […]