KUCHING – Sarawak continues to strengthen its culture of prudent, transparent, and strategic financial management to ensure sustainable development that directly benefits its people.
Premier of Sarawak, Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg, stressed the importance of sound financial governance when officiating the Public Sector Financial Transformation Conference (PSFTC) 2025 on Wednesday.
He said the core of effective financial administration begins with identifying revenue sources before distributing funds into three pillars: consumption, investment, and savings.
“If we adhere to this principle, we are on the right track. If we fail, financial accountability problems will occur, often due to leakages in the process,” he noted.
Drawing inspiration from Nordic countries like Finland, Sweden, and Norway, the Premier pointed out their success in developing resilient economies through efficient financial management, despite their smaller scale.
“Norway, for example, although they only started exploring for oil and gas after us, they are now a rich country because they know how to manage their revenues properly. We have been struggling since 1910,” he added.
Abang Zohari said Sarawak is taking a forward-looking approach by establishing the Sarawak Sovereign Future Wealth Fund. The fund aims to ensure long-term savings and redirect state revenue from taxes and oil income into initiatives that have a tangible impact on citizens.
“This is what I call the ‘re-engagement’ process, where our policies must have a direct impact on the lives of the people,” he emphasised.
This year’s PSFTC, themed “Strengthening Public Finance for a Sustainable Future”, serves as a key platform for enhancing public sector financial governance through knowledge exchange and expert dialogue.
The event was attended by the Minister of Food Industry, Commodities and Regional Development of Sarawak, Dato Sri Dr Stephen Rundi Utom, Sarawak State Secretary, Datuk Amar Mohamad Abu Bakar Marzuki, Deputy Ministers, Auditor-General Dato’ Seri Wan Suraya Wan Mohd Radzi, and various department heads.
