SAPP will ensure RM5b in treasury
 KOTA
KINABALU: Sabah will register a revenue of RM5billion by 2015 under the Sabah
Progressive Party's (SAPP) Economic Plan for Sabah, said its adviser Datuk Haji
Mohammad Noor Mansur.
The former State Finance Minister said this can be achieved through income
generation from new source of revenues which include closer monitoring of
royalties on oil and gas, increased oil production, land taxes on the Petronas
pipeline and installations, public auction of urban commercial lands, allowing
conversion of oil palm lands into industrial lands and revised timber royalties
consistent with market prices.
Explaining, he said in the 1980s Sabah achieved RM1billion in revenue, adding
the state revenue gradually increased with the diversification of revenue
sources to RM2bil in the 1990s and RM3bil in the 2000s and RM4bil last year.
He said the extra RM1bil per annum shall go to the Sabah Heritage Fund (a State
savings fund set up in 1997) where RM100mil will be deposited in this fund; the
Sabah Palm Oil Council (RM100mil); investment in food production and security
and self-sufficiency in rice (RM200mil); human resource training to raise
productivity of local employees and workers to achieve a living wage - minimum
wage - in joint efforts with trade unions and employers associations (RM100mil);
and consolidated fund (RM500mil).
"Our Economic Plan for Sabah targets Gross Domestic Product (GDP) at five to 8
per cent, against an inflation rate of two per cent, compared to the current GDP
at 3.5 per against inflation at two per cent. Faster economic growth (GDP) is
needed in order to expand the economic cake and to reduce poverty," he said in
elaborating on the plan during its launching at the Ming Garden hotel here.
Others included in the plan are abolition of the sand and scrap metal
monopolies, revival and strengthening of the one-stop centre of investment to
ensure an efficient and easy-to-understand process and speedy approval of
investment applications by local/foreign investors, investment and improvement
of the seaports and existing barter trade centres in Tawau and Sandakan as well
as proposed new barter trade centres in Kudat, Semporna and Lahad Datu, proposed
sugar plantation in Kuala Penyu and salt production in Matunggong, revival of
the Sabah Padi Board with massive investments in irrigation and other
infrastructure and paddy planting to make Sabah self-sufficient in rice
production, as well as taking back Sabah Electricity Board which is now partly
owned by the Sabah State Government.
"Only with a viable energy policy and the removal of the cabotage policy can
industrialisation succeed in Sabah," said Mohammad Noor.
The economic plan was launched by SAPP President Datuk Yong Teck Lee, who said
the party came up with the plan in response to the public who asked what the
party can do for Sabah if it takes over the State Government.
Larry Ralon
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