By Ma Chee Seng
KUCHING, Aug 6: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg stressed that Sarawak must continue transforming its public financial management to remain resilient, future-ready, and committed to delivering sustainable development for future generations.
Abang Johari said during the official launch of the Public Sector Financial Transformation Conference 2025 at a hotel here today that financial transformation is no longer an option, but a necessity, one that lies at the heart of Sarawak’s ambitions under the Post Covid-19 Development Strategy (PCDS) 2030.
“With climate change, digital disruption, and geopolitical uncertainties shaping our world, it is no longer enough to manage finances efficiently.
“We must now transform them. We must embed resilience, sustainability, transparency, and innovation into the very fabric of public financial governance,” he said.
Furthermore, Sarawak remains fiscally strong despite global headwinds, citing the State’s healthy cash reserves, continued investments in infrastructure and human capital, and progressive revenue-generating strategies such as the State Sales Tax (SST), carbon trading framework, and public-private partnerships.
He also highlighted Sarawak’s move toward accrual accounting in line with the Malaysian Public Sector Accounting Standard (MPSAS), which will enhance the transparency and accuracy of public financial reporting.
“This is more than just a compliance exercise. It is a foundation for better policymaking and smarter allocation of resources,” he added.
The Premier emphasised that public finance is not just about numbers or balance sheets but the delivery of public trust and the bridge between policy aspirations and real-world impact.
He said fiscal discipline, results-based budgeting, and diversification of revenue are central to Sarawak’s future-facing fiscal policy.
To support this transformation, he pointed to the State’s ongoing digitalisation of procurement, budgeting, and payment systems, as well as efforts to build financial literacy among public servants and strengthen governance through audit reforms and open data initiatives.
“Financial transformation is not the job of accountants alone. It requires a whole-of-government and whole-of-society approach.
“Every ringgit spent must deliver long-term impact, we are not merely managing funds, we are stewards of public trust. Let this conference be a catalyst for reform and a platform for action,” he said.
The Public Sector Financial Transformation Conference 2025 was jointly organised by the Sarawak Centre of Performance Excellence (SCOPE), Sarawak Treasury Department, Institute of Corporate Directors Malaysia (ICDM), and Salihin Academy. — DayakDaily
