KUCHING: Sarawak is anticipating a revenue of RM14.2 billion next year, making it the highest revenue ever projected for the region. 

According to Sarawak Premier, Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg, this revenue is expected from several sources, including taxes, non-tax revenue, non-revenue receipts, as well as grants and reimbursements from the Federal Government.

He noted that non-tax revenue will be the largest contributor at RM7 billion or 49 per cent of the total estimated revenue.

"RM2.7 billion is anticipated from cash compensation in lieu of oil and gas rights, RM2.9 billion from dividend income, RM853 million from interest income, RM400 million from land premium, RM120 million from cash compensation in lieu of import and excise duties on petroleum products, and RM26 million from other sources, including licenses, service fees, permits, and rentals," he said.

He said this when tabling the Sarawak Budget 2025 at the 19th Sarawak Legislative Assembly Sitting on Monday.

Additionally, the Sarawak Premier mentioned that tax collection is projected to be the second largest contributor, amounting to RM6.2 billion or 44 per cent of the total estimated revenue.

"RM5.1 billion will come from the State Sales Tax, of which RM4.1 billion will be derived from crude oil, liquefied natural gas, and other petroleum products, RM820 million from crude palm oil and crude palm kernel oil, RM75 million from lotteries, RM60 million from aluminium products, RM29 million from timber products, and the remaining RM6 million from coal.

"Other tax revenue sources will include RM620 million from raw water royalties, RM100 million from forestry royalties, timber premiums, and tariffs, as well as RM422 million from mining royalties, land rentals, and other sources," he added.

Datuk Patinggi Abang Zohari elaborated further, non-revenue receipts are expected to generate RM32 million, mainly from unclaimed deposits, overpayments recovered, and disposal of vehicles.

He also revealed that grants and reimbursements from the Federal Government are projected to reach RM937 million, considering the Federal Government’s decision to increase the interim Special Grant rate for Sarawak from RM300 million to RM600 million effective next year.

Also present on the first day of the 19th Sarawak Legislative Assembly sitting were Sarawak Deputy Premiers, Datuk Amar Douglas Uggah Embas, Datuk Amar Awang Tengah Ali Hasan and Datuk Amar Professor Dr. Sim Kui Hian, Sarawak Cabinet Ministers, Sarawak Secretary, Datuk Amar Mohamad Abu Bakar Marzuki, Sarawak Attorney General, Dato Sri Saferi Ali, Sarawak Financial Secretary, Dato Sri Dr. Wan Lizozman Wan Omar, Sarawak Deputy Ministers, Deputy Sarawak Secretary (Economic Planning and Development), Dato Sri Dr. Muhammad Abdullah Zaidel, Deputy Sarawak Secretary (Operation), Datu Hii Chang Kee, and Sarawak Assemblymen. -UKASnews