KUALA LUMPUR, July 29 — Consistent inflows into the National Trust Fund (KWAN), including accumulated investment returns, are expected to double the fund’s net assets in about 10 years, according to Deputy Finance Minister Liew Chin Tong.

He said the annual inflows, estimated at nearly RM800 million, would include at least 0.1 per cent of the projected annual revenue of the government revenue, or about RM343 million based on Budget 2026 estimates.

The inflows will also include a minimum of two per cent of the Petronas dividend received by the government, amounting to about RM400 million, as well as at least two per cent of the export duty received on depleting natural resources, after deducting any assignment to the state governments.

Liew noted that these contributions are legally mandated rather than being merely a policy intent.

“The contributions must be transferred into the fund before the end of the relevant financial year. The amounts must be disclosed in the annual financial statement tabled in the Dewan Rakyat, and the contribution rate can only be reduced through an amendment to the Act,” he said.

He made these remarks while winding up the debate on the National Trust Fund Bill 2026 during its second reading in the Dewan Negara today. The Bill was subsequently passed by a voice vote after being debated by 14 senators.

Liew said the contribution sources will no longer be at the discretion of any single party, as three statutory flows of contributions are being made mandatory for the first time while maintaining significant room for voluntary contributions.

These voluntary contributions may be made by state governments, as well as through grants, donations, endowments, bequests, and from any party conducting research on a depleting resource.

He also clarified that the Act does not affect any revenue constitutionally belonging to state governments under the Federal Constitution, including the states’ share of mineral export duties under Article 110.

“However, if any state government chooses to contribute to the fund, such contributions are always welcome under Clause 5(a) of the Act, and they are entirely voluntary,” he said.

Commenting on Clause 33, Liew said it empowers the minister responsible for finance to make regulations to strengthen the governance and management of the fund, including matters relating to the use and withdrawal of funds, as well as the duties and powers and of the fund’s board.

“All regulations made will be gazetted to ensure transparency and accountability,” he said.

The Bill, which was passed by the Dewan Rakyat on July 16, aims to strengthen the fund’s legal framework by ensuring more consistent inflows, more disciplined withdrawals, as well as clearer governance and accountability.

The Dewan Negara sitting will resume tomorrow. — Bernama