Sabah to unveil second stimulus package to boost economy

KOTA KINABALU: A second economic stimulus package will be launched to boost Sabah’s growth and stability, says Yang di-Pertua Negeri Tun Juhar Mahiruddin.

This is also being done to ensure the state manages to regain the confidence of investors and business communities once the movement control order (MCO) is lifted.

Once lifted, the state can carry out efforts to restore the economy, he said in his speech at the opening of the state legislative assembly sitting yesterday.

Juhar said focus must be concentrated on the state’s sectors that focused on clean and environmentally friendly industries, tourism and agriculture.

He also said timber-based downstream industries and development of small and medium industries are also being given attention.

Juhar also said holistic approaches for the development of various sectors in Sabah and its people would be pushed forward amid the global Covid-19 pandemic.

The state, he added, has to be financially stable to get these plans rolling. As such, the state government will continue to seek payments on petroleum royalty and special federal funds to Sabah.

Juhar also advised the state government to emphasise proper financial management with integrity and prudent spending.

On the environment, he said the state government was looking at expanding marine protected areas up to 13% by 2023 and to increase the totally protected land areas to 30% by 2025, compared to the current 25%.