Sarawak’s rev­enue drops to RM5.91b on lower div­i­dends

New Straits Times - - Business -

KUCHING: Sarawak reg­is­tered a to­tal rev­enue of RM5.91 bil­lion last year com­pared with the RM6.955 bil­lion the state col­lected in 2015.

State Sec­ond Fi­nance Min­is­ter and In­ter­na­tional Trade and eCom­merce Min­is­ter Datuk Seri Wong Soon Koh said the drop of RM1.045 bil­lion, or 15 per cent, was mainly due to lower div­i­dends the state re­ceived from oil and gas com­pa­nies and lower cash com­pen­sa­tion in lieu of oil and gas rights.

In his wind­ing up speech at the 18th State Leg­isla­tive As­sem­bly sit­ting, here, yes­ter­day, he said the to­tal or­di­nary ex­pen­di­ture last year was RM5.564 bil­lion.

“Of this amount, RM2.264 bil­lion was oper­at­ing ex­pen­di­ture and RM3.3 bil­lion was ap­pro­pri­ated to re­plen­ish the De­vel­op­ment Fund Ac­count.

“An­nual oper­at­ing ex­pen­di­ture has con­tin­ued to rise. For last year, oper­at­ing ex­pen­di­ture in­creased to RM2.264 bil­lion from RM1.889 bil­lion in 2015, a rise of RM375 mil­lion, or 20 per cent,” he added.

Wong said de­vel­op­ment ex­pen­di­ture for last year amounted to RM3.919 bil­lion with RM1.925 bil­lion for ru­ral de­vel­op­ment.

For the first quar­ter of this year, the state recorded rev­enue of RM1.852 bil­lion, which was 35 per cent of the to­tal es­ti­mated rev­enue of RM5.320 bil­lion for the year. Ber­nama

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