KUCHING, Feb 9: Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg outlines a vision for the future of hydro power production in Sarawak, indicating a desire to transition to using energy from running water rather than large reservoirs, which could have negative environmental consequences such as flooding.
In his Chinese New Year 2024 message, the Premier highlighted Sarawak’s current hydroelectric capacity, stating that approximately 3.5 Gigawatts of energy have been harnessed from hydro potential.
“We also want to harness in a big way the solar energy potential, particularly using the floating solar panels in our hydro dam reservoirs.
“These are renewable resources which we must exploit in accordance with the
goals set by the United Nations under the SDGs or Sustainable Development Goals that are meant not only to boost the economy as measured by the growth of GDP (gross domestic product) but also to benefit the people across the board,” he said.
Abang Johari further outlined three strategic goals for Sarawak in 2024, including reclaiming control of Bintulu Port, establishing an airline for better connectivity, and acquiring a major stake in a commercial bank to boost the economy.
He also acknowledged the recent progress and achievements in Sarawak’s economic development, such as the establishment of the Sarawak Sovereign and Future Wealth Fund (SSWF) and the continuous rise in revenue.
“Last year has been a good year where we achieved a few things that we have
planned, notably the setting of our SSWF with an initial seed capital of RM8 billion and progressive yearly appropriation of between RM400 million to RM600 million until 2034 from the Sarawak government.
“The seed capital will be invested in the relevant portfolios as determined by the Board of Guardians that comprise international monetary figures so that the fund will grow and increase our savings.
“The fund’s board will report to the State Legislative Assembly (DUN) with the provision that there’s no withdrawal for the next 20 years under normal circumstances.”
The Premier continued: “We are able to set up the SSWF because Sarawak has quite a strong saving and our revenue continues to rise to record figures.
“Last year, Sarawak’s revenue stood at RM13.3 billion, and I believe it will continue to rise next year, and in the years ahead, as our economy continues to strengthen.”
In addition, Abang Johari expressed confidence in Sarawak’s potential for economic growth and development, attributing it to factors such as political stability, social cohesion, and a conducive business environment.
“Let us not dwell on trivialities but always look at the bigger picture to enable
Sarawak stands tall as a strong economic force in Malaysia and in the region.
“Finally, let me once again wish all our Chinese friends Gong Xi Fa Cai. May the year of the dragon be another successful year for Sarawak and for all of us. Gong Xi Fa Cai, Xin Nian Kuai Le,” he added. — DayakDaily
