Sarawak records RM2.219 billion in revenue for first quarter 2019
Last Update: 08/05/2019
KUCHING, May 8 (Bernama) – Sarawak recorded a revenue collection of RM2.219 billion for the first quarter of this year, mainly from cash compensation in lieu of oil and gas rights, said second finance minister Datuk Seri Wong Soon Koh.
He said the amount represented 21.1 per cent of the RM10.513 billion estimated revenue for the year, with the revenue collection was expected to pick up towards the latter part of the year.
“I am pleased to report that the state financial account for the year ended 31 December 2018 has again been accorded with an unqualified report.
“This is the 17th consecutive year that the state earned the clean bill of health,” he said in his winding-up speech for his ministry in the state legislative assembly sitting here today.
He also said RM2.874 billion or 27.7 per cent of the ordinary expenditure of RM10.390 billion has been expended during the first quarter of this year.
Wong said out of this, RM0.799 billion was for operating expenditure while the balance of RM2.075 billion was appropriated to the Development Funds Account.
As for the development expenditure, RM1.691 billion or 18.6 per cent out of the approved allocation of RM9.073 billion has been expended for the first quarter of this year, he said.
“Development expenditure is expected to increase progressively in tandem with the on-going activities during the year,” he said.
He said under the Eleventh Malaysia Plan (11MP), the state government has approved a total ceiling of RM37.1 billion to implement 1,424 programmes and projects throughout the state.
Out of this, 911 are physical projects while the remaining 513 are non-physical projects.
As of March 2019, he said, out of 911 physical projects, 329 projects had been completed while the remaining 582 projects are still at various stages of implementation.
On federal funded projects, he said a sum of RM17.2 billion was approved by the federal government to implement various programmes and projects in Sarawak under the 11MP.
With the development gap faced by Sarawak, Wong said the amount was obviously far from enough to develop Sarawak to be on par with its counterparts in Peninsular Malaysia.
“We must be accorded a fair and equitable share of the federal development fund and the federal government must take cognisance of the significant contribution by Sarawak, in terms of tax collection and oil and gas revenues to the federal coffers,” he said.