HIDHLIGHTS OF SARAWAK BUDGET 2019
1 5 per cent Sales Tax on Petroleum Products
Sarawak has decided to impose 5 per cent sales tax on petroleum products. This will take effect on January 1, 2019. The sales tax will be levied on petroleum products namely: Crude oil Natural gas Liquefied natural gas Chemical-based fertilisers Gas-to-liquid products
2 Incentive for Newborn Child
Sarawak government has decided to introduce a new policy whereby every newborn child as long as they are Sarawakian will be given a one-off incentive of RM1,000 irrespective of ethnicity, religious beliefs or social status. This incentive can only be withdrawn upon attaining the age of 18 and is meant for their further education or as capital to pursue their career.
3 Accelerating Development in Rural Areas
To hasten the pace of rural development, a total sum of
RM6.049 billion is proposed in 2019 Development Budget of which RM2.350 billion is set aside for the implementation of the following projects: RM1.535 billion for Walkabout Projects RM500 million for Rural Transformation Projects RM243 million for Minor Rural Projects
RM72 million for Program Penambahbaikan Rumah Miskin Sarawak (PPRMS).
4 Improving the Connectivity of Sarawak
Sarawak is investing in more infrastructure projects such as roads, bridges and jetties to further improve its connectivity. For this purpose, a sum of RM1.105 billion will be allocated for the implementation of various projects.
5 Strengthening Agriculture Development
The agriculture sector needs to be modernised and commercialised through leveraging on advanced technologies. A sum of RM315
million is proposed in 2019 for various programmes such as venture capital, crop industry development and rural development.
6 Further Development of Industrial Estates
In line with the state industrialisation programme, Sarawak will continue to build infrastructure suitable for industries. For this purpose, a sum of RM85.3 million is proposed for the implementation and completion of various industrial estates: Demak Laut Industrial Park Sematan Industrial Estate Sri Aman Industrial Estate Bau Industrial Estate Rantau Panjang Industrial Estates
7 Providing Affordable Housing for the Rakyat
Sarawak will continue to build quality and more affordable houses targeting at the lower income group. For 2019, a sum of RM141 million is proposed for housing development including financing of new and on-going construction of 1,827 units of affordable houses under Rumah Mampu Milik (RMM) and Rumah Spektra Permata (RSP). The 2019 Development Budget would also propose to allocate a sum of RM270 million for the redevelopment of traditional projects.
8 New Financial Model
Sarawak is leveraging on a new financial model via the Development Bank of Sarawak (DBoS) as well as opportunity in the capital market to source for competitive alternative funding. Utilisation of alternative funds raised through DBoS and the capital market would allow the state to manage its cash flow more efficiently and at the same time, ensure financial capacity to take care of other responsibilities of the state.