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Sarawak to stop funding state GLCs by 2027: Abang Johari | Scoop
Sarawak Premier Tan Sri Abang Johari Tun Openg has said that the state will stop funding state GLCs, beginning with SEDC and BDA by 2027. – Abang Johari Facebook pic, June 25, 2024
News

Sarawak to stop funding state GLCs by 2027: Abang Johari

This will start with Sarawak Economic Development Corporation, Bintulu Development Authority as they have potential to generate own income, premier adds

Borneo Post Online
Updated
4:20 PM MYT

 

KUCHING – The Sarawak government will in future no longer set aside capital outlays for government-linked companies (GLCs). 

This will start with the Sarawak Economic Development Corporation (SEDC) and Bintulu Development Authority (BDA) in 2027, said the premier.

Tan Sri Abang Johari Tun Openg said these GLCs would have to look for their own provisions just like private companies.

“I have given instructions for the first two GLCs, namely SEDC and BDA, that by 2027 the government will no longer give funds to them. They are on their own.

“They would have to find their capital outlays, multiply their investments, and they will have to explore businesses that will give them returns.

“On top of that, the GLCs would have to give dividends back to the government,” he said when officiating at the National Auditors Conference here today.

He said this step is part of the Sarawak government’s efforts towards lean management practices to achieve sustainable and profitable efficiencies while using available funds to upgrade infrastructure, including schools and clinics.

“With the savings, we will be able to upgrade infrastructure for the people while at the same time, strengthening our financial position.

“In addition, the GLCs can also venture into sectors that can give them returns thus increasing economic activities throughout Sarawak,” he said.

Abang Johari said lean management would also enable the state government to safeguard its finances and prevent leakages of allocations channelled to various departments.

“The government has departments with their own responsibilities respectively and they must manage allocations given to them in the budget under a responsible and disciplined manner.

“What’s happening here is that every year, they would put in a budget to get allocations. and they also have some companies operating under them. 

“Sometimes they forgot that they’ve asked for capital contribution.

“When it becomes a system, the government has to give them capital outlays every year without knowing the returns, and that is where the leakages happen,” he explained.

Abang Johari later told reporters that SEDC and BDA were selected because they have potential to generate their own income.

“For example, SEDC has methanol, and they can generate income from that. So, I would no longer need to give them funds to operate.

“The same goes for BDA, which has a lot of investment potential due to Samalaju. They need to find a way, but I will guide them,” he said.

He added the new directive would not affect local authorities as they provide services and were not businesses. – June 25, 2024

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