By Karen Bong
KUCHING, Nov 11: Sarawak’s revenue collection is projected to reach nearly RM14 billion this year, marking the highest revenue in the State’s history.
Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg announced that based on current performance, the State’s 2024 revenue is expected to exceed the RM13.3 billion collected in 2023.
“As of October 2024, Sarawak’s revenue stands at RM12.2 billion, or 87 per cent of this year’s projection,” he said when tabling the Sarawak Budget 2025 at the Sarawak Legislative Assembly (DUN) Sitting today.
The RM12.2 billion collected so far is primarily driven by State Sales Tax (SST) revenue at RM4.4 billion, followed by petroleum product revenue at RM3.6 billion.
Other key contributors include crude palm oil and palm kernel oil (RM705 million), aluminium (RM68 million), lottery (RM61 million), timber products (RM27 million), and coal (RM5 million).
Additional revenue sources include RM2.7 billion from cash compensation in lieu of oil and gas rights, RM2 billion in dividends, RM1 billion from interest and investment returns, and RM554 million from raw water royalties.
Land premium brought in RM191 million, cash compensation for imports and excise duties on petroleum products contributed RM120 million, forestry generated RM214 million, and federal grants and reimbursements amounted to RM554 million.
Other revenues, including mining royalties, water sales, and land rents, totalled RM507 million. — DayakDaily
