Sarawak on track to break revenue collection record with RM11.630 bln as of Oct 2023

Abang Johari delivering his Sarawak Budget speech during the DUN sitting on Nov 20, 2023.

By Shikin Louis

KUCHING, Nov 20: Sarawak has collected RM11,630 million (RM11.630 billion) as of October 2023, which has surpassed its initial revenue estimate of RM11,035 million (RM11.035 billion).

Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg said based on the State’s revenue performance thus far, the revenue collection for this year is projected to be RM12,718 million, an increase of RM808 million or 7 per cent as compared to the 2022 revenue collection of RM11,910 million.

“This will be Sarawak’s record-breaking and highest ever revenue collection in its history,” he said when tabling the Supply (2024) Bill, 2023 during the Sarawak Legislative Assembly (DUN) sitting here today.

The actual revenue collection of RM11,630 million is mainly from State sales tax (SST) of RM4,231 million contributed by petroleum products (RM3,424 million), crude palm oil and palm kernel oil (RM630 million), aluminium (RM103 million), lottery (RM62 million), timber products (RM8 million), and coal (RM4 million).

Also contributing to the revenue collection were cash compensation in lieu of oil and gas rights of RM2,862 million, dividends (RM2,096 million), interest and return from investments (RM748 million), raw water royalty (RM496 million), land premium (RM213 million), forestry (RM263 million), cash compensation in lieu of imports and excise duties on petroleum products (RM120 million), federal grants and reimbursement (RM270 million) and other sources such as mining royalties, water sales and land rent (RM331 million). — DayakDaily