Selangor Journal
Sultan Selangor Sultan Sharafuddin Idris Shah Alhaj delivers the royal address during the opening of the First Meeting of the Second Session of the 15th State Legislative Assembly in Shah Alam, on February 27, 2024. — Picture by AHMAD ZAKKI JILAN/SELANGORKINI

Sultan praises state’s economic performance, wants revenue spent for people’s well-being

By Danial Dzulkifly

SHAH ALAM, Feb 27 — Sultan Selangor Sultan Sharafuddin Idris Shah Alhaj has commended the state government for its strong financial performance last year, highlighting its various achievements, including exceeding its revenue target and a financial surplus.

However, His Royal Highness stressed the importance of managing revenue well and utilising it for the people’s prosperity.

“I would like to express my congratulations to the Menteri Besar’s (Dato’ Seri Amirudin Shari) administration for the state government’s financial performance achievement in 2023,” Sultan Sharafuddin said in the royal address during the opening of the First Meeting of the Second Session of the 15th State Legislative Assembly today.

“The state government’s reserves via its consolidated fund stood at RM3.561 billion, while the RM2.708 billion revenue collection for 2023 exceeded its target.

“Additionally, the state recorded a financial surplus from its revenue collection and expenditure amounting to RM206 million,” said His Royal Highness.

Sultan Sharafuddin also expressed hope this financial performance can be further improved in the future, and that Selangor will continue to be the largest contributor to Malaysia’s gross domestic product (GDP).

“Having said that, the state’s revenue must be managed well and spent for the people’s prosperity and welfare,” the Ruler reminded the assembly.

Commenting further, His Royal Highness affirmed the state government’s commitment to create a stronger and more competitive state, in accordance with the First Selangor Plan (RS-1).

Sultan Sharafuddin added that the state will commence the implementation of projects under RS-1 this year to ensure its economy remains resilient and progressive over the next five years.

“Efforts to diversify the state’s revenue will begin by increasing the government’s income through contributions and dividends from state subsidiaries and agencies, as well as statutory bodies.

“It is targeting a total of RM40 million in dividend payment in 2024 from subsidiaries under the purview of Menteri Besar Selangor (Incorporated),” said His Royal Highness.

The Sultan remains hopeful that all plans outlined under RS-1 will be implemented according to the set timeframe.

Priority should be given to welfare programmes for the rakyat, high-impact projects like developing new economic zones, new initiatives to generate economic growth, and creating an investor-friendly environment.

His Royal Highness also noted that Selangor recorded an estimated 4.1 per cent in economic growth last year, and this momentum is projected to persist throughout 2024 at a rate of 5.2 per cent, with the services and construction sectors being among the main contributors.

Commenting on the 2024 Selangor Budget, tabled on November 10 last year with a RM2.53 billion allocation, the Sultan said there is an emphasis on creating high-impact jobs while providing avenues for its citizens to uplift their quality of life.

“Various aspects have been considered, and several new allocations have been made for food supply security, high-value technical and vocational education and training (TVET) programmes, smart technology in public transportation improvements, free tuition programme, and the Hajj Muassasah incentive.

“Meanwhile, initiatives under Iltizam Selangor Penyayang continue to be strengthened with the provision of basic treatment and vaccination assistance, hospitalisation benefits, daycare and kindergarten assistance, as well as aid for special needs children,” said Sultan Sharafuddin.

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