Economic Affairs Ministry gets lion’s share

THE newly-formed Ministry of Economic Affairs will receive the bulk of an allocation amounting to RM1.28bil following the tabling of a Supply Bill to redistribute RM3.06bil to several ministries and agencies.

A total of RM3,065,113,896 from the Consolidated Funds will be distributed to 13 ministries, the Treasury and Treasury general services.

The Bill or Supply (Reallocation of Appropriated Expenditure) Act 2018 will operate retrospectively and deemed to have come into operation on July 2 this year.

The other ministries and agencies which will receive funds are Treasury Services (RM448mil), Home (RM225.8mil), Water, Land and Natural Resources ( RM190. 3 m i l ) , Education (RM181.8mil), Youth and Sports (RM163.7mil), Human Resources (RM111.2) and Energy, Science, Technology, Environment and Climate Change (RM101.8mil).

The other recipients include the Treasury ( RM67mil), Rural Development Ministry (RM8.7mil), Entrepreneur Development Ministry (RM76.2mil), Transport Ministry (RM14.6mil), Federal Territories Ministry (RM78.2mil), Housing and Local Government Ministry ( RM34.8mil) and Communications and Multimedia Ministry (RM73.4mil).

The Supply Bill was tabled for first reading by Finance Minister Lim Guan Eng yesterday and is scheduled to be passed during the present meeting, which ends on Aug 16.