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MALAYSIA: REVENUE SHARING WITH SABAH, SARAWAK AFTER FINANCIAL POSITION IMPROVES

KUALA LUMPUR, Malaysia The Federal government will share its revenue with Sabah and Sarawak only after the country’s financial position improves, says Finance Minister Lim Guan Eng.

He said the government needed more time, at least until next year, to come up with a formula on how to share the revenue with both states.

‘The Federal government will always try to fulfil the demands and rights of state governments in line with the constitution.

However, this depends on the government’s ability and the country’s revenue status, he said in reply to a question from Wong Chen (PKR-Subang) in the Dewan Rakyat today.

Lim said the Federal government’s fiscal position was very challenging now with many financial constraints following the financial scandals inherited from the previous government.

This (revenue sharing) is one of the government’s commitment and if there were no financial scandals , there will not be any issue (in implementing it). Whether we like it or not, we have to face facts, he added.

The finance minister also said in line with the fourth trust of Pakatan Harapan’s election manifesto, “Buku Harapan”, the Cabinet agreed, on Sept 5, to establish a Special Cabinet Committee to review the Malaysia Agreement 1963 and make recommendations to the Federal government on implementing the rights and autonomy of Sabah and Sarawak. — NNN-BERNAMA

Source: NAM News Network

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