Saturday November 3, 2012

Penang tables RM1.13bil Budget

GEORGE TOWN: The Penang Government has tabled a Budget of RM1.13bil for next year.

Chief Minister Lim Guan Eng said RM970.56mil would be set aside for operating and RM363.39mil for development expenditure.

Out of this, he said RM200mil was allocated as a contribution to the state development fund.

Lim said next year’s Budget would see a deficit of RM262.04mil and it is RM48.33mil more than the estimated deficit of 2012 which stood at RM213.71mil.

He added that the deficit would be financed from the state’s accumulated savings of RM710.81mil as of 2011.

“Other than contributions to the state development funds, the allocations for financing of social programmes had also increased, thus the rise in the deficit,” he said.

He also said that since March 2008, the state had spent RM176.4mil for welfare programmes and RM500mil for the implementation of affordable housing schemes.

Lim also announced that Penang aimed to be the first state to eradicate poverty.

The state government planned to top up the income of households earning less than RM770.

“The povery threshold in peninsular Malaysia is RM763 a month.

“Next year, the state will raise the minimum income of households in Penang from RM600 to RM770 a month,” he said.

He added that the programme would involve about RM20mil a year.

Lim also announced that the state Budget with the theme Agenda Ekonomi Saksama (Equitable Economic Agenda) would have several initiatives.

These include stimulating investments and the industrial sector; boosting the heritage and tourism sectors; strengthening the halal industry; improving the quality of public facilities and infrastructure; improving traffic management; providing utilities; and further developing the agriculture and livestock sectors.

News

Saturday November 3, 2012

Penang tables RM1.13bil Budget