SARAWAK has tabled the expansionary 2024 State Budget of RM13.6 billion, the largest-ever spending plain presented by the state government.
In presenting the budget today, Premier Tan Sri Abang Johari Openg said it is meant for funding development projects as well as for administrative purposes.
“This Budget for next year is expansionary in nature and it will propel development projects currently in the pipeline.
“As for income, we expect to generate a revenue of RM12.7 billion by the end of this year.
“So far, we have collected revenues of RM11.630 billion and we project to earn the highest revenue this year,” he said when tabling the Supply (2024) Bill at the state legislative assembly today.
He said the gas and petroleum sectors continued to remain the backbone of the state in terms of revenue, with state sales tax on petroleum products raking in RM3.424 billion so far this year.
Also contributing largely to state income were palm oil and palm kernel oil (RM 630 million), aluminium products (RM103 million) and lotteries (RM62 million).
As for royalty income, Sarawak’s oil and gas rights contributed RM2.863 billion.
“The state also received RM748 million in dividends and interests, while for forest products, we collected RM263 million.
“Royalty from raw water brought in RM496 million, while Sarawak collected RM213 million from premium royalties,” he said.
He added that development projects for basic infrastructure would continue to be the main focus next year. – The Vibes, November 20, 2023
