S'wak expecting RM14.2bil in revenue this year, state assembly told
KUCHING: Sarawak's revenue is projected to reach RM14.2bil this year, slightly surpassing the RM14.187bil collected last year, says Deputy Premier Datuk Amar Douglas Uggah Embas.
He said RM4.3bil or 30% of the projected revenue had been collected as of April, with state sales tax contributing the highest amount at RM1.76bil.
Other major sources of revenue included cash compensation in lieu of oil and gas rights (RM1.76bil), dividends (RM600mil), raw water royalty (RM229mil), interest income (RM250mil), forestry receipts (RM65mil), land premium (RM59mil) and federal grants and reimbursement (RM25mil).
"Considering the challenging economic environment and geopolitical issues that are influencing the oil and gas markets globally, we foresee that our revenue projection for this year would be impacted," Uggah told the Sarawak Legislative Assembly in his winding-up speech on Wednesday (May 28).
He also said the state had spent RM3.68bil or 27% of the approved ordinary expenditure as of April, while RM1.44bil or 13% had been spent on development expenditure.
The expenditures are anticipated to increase in the later half of the year, coinciding with the progress of project execution, he added.
"Given that this year marks the end of the 12th Malaysia Plan, it is imperative for all controlling officers and heads of departments to continue to be committed towards the successful delivery of programmes and projects which they are accountable and responsible for.
"They must also be proactive in resolving any issues related to project implementation," he said.
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