KOTA KINABALU: Sabah wants unused annual federal development funds allocated under Budget 2023 to be placed under a trust fund if the identified projects could not be completed during the year.
State Finance Minister Datuk Seri Masidi Manjun said that creating a trust fund would ensure that the money allocated for the year was used to complete the targeted projects instead of it being carried forward to the next budget for the same project.
Explaining as an example, he said that if the allocation for a particular year was RM5bil but only RM3bil could be implemented, then the same allocation was being carried forward for the same project in the next Budget to complete the project. Masidi said that it was important for both state and federal agencies to work efficiently to manage the development funds utilised for the targeted projects to be completed within the year it is allocated.
Though he did not give statistics, some analysts have pointed out that Sabah managed to utilise only about 50% of annual development allocation over the years."As the state finance minister, I think it is more important to uphold the efficiency of government agencies at the federal and state levels in managing the fund.
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