Abang Johari speaks to reporters. – Photo by Chimon Upon

KUCHING (Oct 2): The Sarawak State Ownership Policy, aimed at consolidating and safeguarding state assets under a stronger governance framework, will be presented during the State Budget 2026 at this November State Legislative Assembly (DUN) sitting, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

Developed in collaboration with the World Bank under the Sarawak Public Financial Management Transformation Programme, Abang Johari said the policy seeks to ensure prudent management and value creation of state-owned enterprises and other state assets.

“When you safeguard ownership through prudent management, you must also add value to the assets.

“Some are under statutory bodies, some under state-linked corporations, and all require strong governance and accountability.

“If the Auditor-General highlights weaknesses, they must be rectified immediately; that is what we call good governance,” he told reporters after witnessing the Reimbursable Advisory Services (RAS) Agreement signing at a local hotel here today.

On Results-Based Budgeting (RBB), Abang Johari said the framework is already being adopted in Sarawak.

“Actually, it is immediate. Once you allocate funds, there must be results at the end of the day.

“We want projects to follow their implementation schedule, and if there are delays, the implementing agencies must be accountable,” he said.

He noted that RBB, unlike conventional budgeting, links resource allocation directly to measurable outcomes.

“If the results are not there by the target year, then it is a failure. That is why we call it results-based budgeting,” he said, noting that the system is expected to keep major initiatives, such as the Sarawak Metro and bridge construction projects, on track.

Added that the details of the State Ownership Policy will be outlined in his budget speech this November, while RBB will continue to be monitored by the Ministry of Finance and the State Financial Secretary’s Office.