Minos supports establishment of DBOS

KUCHING: The setting up of Development Bank of Sarawak ( DBOS) will help solve the difficulty in obtaining financing for big but strategic projects with long gestation period in the state.

In stating this, Kota Samarahan Municipal Council chairman Datuk Peter Minos pointed out that it is very difficult at times to get financing for public utility and facility projects in the state.

Yet these projects such as roads, bridges and hospitals, Minos added, are badly needed by the government for the good of the people.

“People are also endlessly demanding for those public utilities and facilities. I believe Sarawak Government seeks to solve this perennial problem and thus had proposed for DBOS to be set up.

“I say ‘syabas’ (congratulations) and it is a good move. All that is now needed is the seed capital and skilled manpower for the development bank,” Minos said yesterday.

He said the Sarawak Government has all the requirements and that was why Bank Negara Malaysia gave the green light for the setting up of DBOS.

“There are of course the national development bank and commercial banks around but as said, experience by Sarawak Government and Sarawakians has indicated difficulties of bureaucracy, delays and procrastination in getting the necessary funding.

“This has not gone down too well for Sarawak. Thus there is a need for DBOS, a need arising from necessity.”

Minos said Sarawakians, of course, want the development bank to be efficiently and wisely run for the good of Sarawak, adding that there are many good and honest Sarawakians who can be entrusted to manage DBOS.