Sarawak looking into setting up pension fund for state civil servants - Abang Jo

KUCHING - The Sarawak government is looking into setting up its own pension fund for the state's civil servants.

Sarawak Premier Tan Sri Abang Johari Tun Openg said the matter is still under discussion and needs time to be finalised.

Abang Johari, who is more popularly known as Abang Jo, said the establishment of the fund has to also take into account the financial situation of the Sarawak state government.

"I can't announce it yet, if the (state's financial) strength is there I will announce it. Now this is still in the discussion stage and we are also looking at the future situation of the state.

"We have established our own sovereign wealth fund and Sarawak's income is expected to increase. If we're financially strong, we can do anything but it must be prudent," he said while speaking at the Premier's 2023 Message ceremony here, today.

On Nov 22, the Sarawak State Legislative Assembly passed the Sovereign Wealth Future Fund Board Bill, 2022 with an initial allocation of RM8 billion from the state government.

The fund will be managed professionally and transparently by a Board of Guardians consisting of experts and professionals in the field of finance and investment.

Meanwhile, Abang Johari expressed his appreciation to the state civil servants for their good cooperation in making the state government's agenda a success.

He said he also has a target for the agencies under the state government to become more independent and no longer depend on the government, especially in terms of their income.

"We know now that Sarawak Energy Berhad (SEB) and Petroleum Sarawak Berhad (PETROS) are already on their own (financially). With that savings, the state government can do something else especially on people's welfare," he said. - BERNAMA