By Shikin Louis
KUCHING, Jan 17: Sarawak’s revenue could potentially reach RM20 billion by the end of the year, driven by recent developments in the State’s oil and gas sector, according to Tourism, Creative Industry, and Performing Arts Minister, Dato Sri Abdul Karim Rahman Hamzah.
Abdul Karim shared that Sarawak’s 2024 revenue had already surpassed expectations, totaling RM13 billion, more than RM1 billion above initial forecasts.
Building on this success, the 2025 budget has been raised to RM15.8 billion.
“Looking at the current prices of oil and gas, I believe that by year-end, Sarawak’s revenue might even hit RM20 billion,” he said during a press conference at Baitul Makmur II here today.
He was responding to a reporter’s inquiry about the State’s revenue trends now that Petroleum Sarawak Berhad (Petros) has been established as the sole gas aggregator for Sarawak.
Abdul Karim further highlighted that the State’s expanding financial reserves have created opportunities to establish a sovereign fund.
“We’ve even loaned money to the federal government for the rebuilding of dilapidated schools and to build medical facilities, including the Sarawak Cancer Centre,” he added. – DayakDaily
