Home » Sarawak » Sarawak nets RM7.163 bln in revenue last year — Wong

Sarawak nets RM7.163 bln in revenue last year — Wong

GOOD MORNING: Assistant Minister of Early Childhood Education and Family Development Rosey Yunus greeting Speaker Datuk Amar Mohd Asfia Awang Nassar as they arrive for the 17th State Legislative Assembly (DUN) Sitting yesterday.

KUCHING: Sarawak registered RM7,163 million in revenue in 2013 from the collection of compensation in lieu of oil and gas rights, interest and returns from investments, forest royalty and sales tax.

The budget for that year was RM5,236 million, said Second Finance minister Dato Sri Wong Soon Koh in his winding-up speech yesterday.

The state spent RM5,037 million on ordinary expenditure last year, as compared to RM4,619 million in 2012.

“Of the amount expended in 2013, about RM1,737 million was for operating expenditure and RM3,300 million went to the development fund account to meet development programmes and projects implementation expenditures,” he said.

“On development expenditure for 2013, we spent about RM3,383 million or 92 per cent of the approved allocation of RM3,671 million for the year.”

Touching on the financial performance in the first quarter of this year, Wong said RM2,591 million in revenue was collected, which represented 52 per cent of the estimated revenue of RM4,941 million for the year.

“I am confident that the estimated revenue for the year is achievable in tandem with the expected favourable national and state economic performances.”

On expenditures, Wong said RM1,227 million of ordinary expenditure or 26 per cent of the approved annual allocation of RM4,683 million had been expended in the first quarter of this year.

“Out of the total amount of ordinary expenditure expended during the first quarter of this year, RM477 million was for operating expenditures while the remaining RM750 million was appropriated to the Development Trust Funds.”

Wong said RM1,268 million, or 30 per cent of the approved annual allocation of RM4,276 million had been spent on development expenditure in the first quarter of 2014.

“Expenditure is expected to increase as activities pick up during the year.”

Wong reminded all implementing agencies to monitor all projects closely in order to ensure that all projects were implemented as planned.

“Likewise, all programmes and projects, particularly those that have high impact and greater multiplier effect, must be implemented as scheduled to spur the state’s economic growth to benefit the people.”

Wong said the state government would continue to ensure that all projects under the state’s 10th Malaysia Plan, Sarawak Corridor of Renewable Energy (SCORE) and the Federal Rolling Plan were implemented smoothly and completed as scheduled.

Elaborating on the performance of state-funded 10th Malaysia Plan projects, he said RM18,000 million were approved for the 2011-2015 period.

“Out of the 1,047 projects, 340 are physical projects while the remaining 707 are non-physical projects. In the first quarter of 2014, 114 projects or 33.5 per cent had been completed while 236 projects or 66.5 per cent are at various stages of implementation.”

In terms of financial performance as at the first quarter of 2014, Wong said the state had incurred a cumulative expenditure of RM10,518 million or 59 per cent of the 10th Malaysia Plan ceiling.