SUPP Youth chief Michael Tiang says Sarawak is resource rich and has huge reserves to guarantee its financial stability. — Picture by Sulok Tawie
But Tiang said there is also no need for the state government to dip into its reserves as it has enough revenue from its oil-and-gas sector to cover development spending. Lim claimed that is the Sarawak set its budget at RM11 billion every year, it would exhaust its reserves of RM30 billion, leaving the state with nothing.
Tiang said today that the state government has to increase its development allocation because the Pakatan Harapan federal government only budgeted RM4.3 billion for Sarawak this year. “And definitely not making such irresponsible and untruthful speculations that Sarawak will go bankrupt in three years. It is a plain foolishness for a finance minister to say those words in public,” Tiang said.
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