KOTA KINABALU, Jan 20 ― The Budget 2015 revisions announced today will not hamper Sabah’s growth as they retained funds for the state’s ambitious Pan-Borneo highway, Chief Minister Datuk Seri Musa Aman said today.
Musa said that the revisions necessitated by falling oil prices were timely and proactive to protect the country’s economy and welfare of the public.
“What’s important is the government’s guarantee that development expenditure is unaffected or reduced, for example, the Pan Borneo highway will continue to be implemented.
“This is proof that despite the economic challenges, the Government is always conscientious of the people and providing facilities for them,” said Musa.
In the Budget announced in October, Prime Minister Datuk Seri Najib Razak announced a RM27 billion allocation for the Sabah-Sarawak Pan-Borneo Highway that stretches 1,633km across the two states.
In Budget 2014, RM500mil was allocated for the highway, which was part of Barisan Nasional’s 13th general election manifesto to improve basic amenities in the rural areas.
Musa said that despite a reduction in some operating expenditure for the country, it placed importance on efficient and prudent management.
Najib today announced a series of cuts to the government’s operating expenditure intended to save Putrajaya RM5.5 billion over the year, after conceding that the Budget 2015 drawn up when crude oil price was over US$110 (RM396) per barrel was no longer realistic.
The revised Budget now pegs oil-derived revenue to a projected price of US$55 per barrel.