BY: ERMIZI MUHAMAD
SHAH ALAM, AUG 15: The state’s reserves continue to register positive growth with a total of RM480 million as of early August 2016, said Menteri Besar Dato’ Seri Mohamed Azmin Ali.
He said the amount was recorded through revenue collection of RM1.86 billion against a cost of RM1.38 billion.
This means that the State Government has revenues of 82.49% (RM1.86 billion) over the estimated total revenue for 2016, which was RM2.25 billion,” he said.
Mohamed Azmin said the State Government is committed to ensure that reserves are managed in a positive manner for the survival of the domestic economy.
He also said the focus of the State Government is to continue diversifying its sources of earnings as an added value to maximise income.
“The State Government’s main challenge in future is to diversify its sources of income rather than to just rely on the current revenue from its land.
“But our primary focus is to continue wit long-term economic planning strategically, with the right projection so that we do not need to present any supplementary budget,” he said.
In a similar development, the State Government is targeting a total investment of RM6 billion through various programmes and initiatives to attract long-term investment in Selangor.
Mohamed Azmin said the investment has a high potential in contributing towards a more sustainable and competitive state’s economic growth.
Positive state revenue – 82.49% earnings recorded
