‘Sovereign Wealth Fund must be managed well for benefit of all’

There are six main points that Belaga folk want the state government to pay close attention to with regards to the Sarawak Sovereign Wealth Future Fund Board Bill, say Pemanca Umek Jeno and Pemanca Tony Kulleh.

They said, firstly, the fund which is expected to generate huge income should be shared fairly among the people of Sarawak.

“Secondly, the board of management must be represented by every ethnic group in the state.

“Thirdly, some funding must be channeled to the various nongovernmental organisations, for example the board of trustees of various ethnic groups to assist them in the educational, economic and social arenas,” they said in a statement sent via WhatsApp.

Umek and Tony said the fourth point is that the fund must be managed with complete transparency, trust and integrity by its board of management.

“Fifthly, the terms of reference for board of management must be defined and stated clearly and officially.

“Sixth, the fund must give equity share to local stakeholders directly affected by hydro electric projects such as Bakun, Murum, Batang Ai and Baleh dams,” they said.

The Sarawak Sovereign Wealth Future Fund Board Bill 2022 was passed by the State Legislative Assembly (DUN) on Tuesday.