Abg Jo: GPS to set up state sovereign fund
Posted on : 20 Nov 2021  Source of News: The Borneo Post

Abang Johari (second right) applauds along with Fadillah (right) as they watch the unveiling of the newly completed section of the Pan Borneo Highway. — UKAS photo

JULAU (Nov 20): Gabungan Parti Sarawak (GPS) will set up a state sovereign fund as it embarks on socioeconomic policies which focus on improving the livelihood of the people, said Chief Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said that the sovereign fund would be a continuation of GPS initiatives to prosper the people of Sarawak.

“We have already implemented the Sarawak Endowment Fund whereby a newborn Sarawakian would get RM1,000 deposited into their account; RM10,000 bursary for Sarawakians studying in UTS (University Technology Sarawak); and RM10,000 assistance as a deposit for purchase of houses costing below RM300,000 for the B40 group.

“The Sarawak sovereign fund is our way of sharing our wealth among the people of Sarawak like Norway does for its people,” Abang Johari said in his speech when officiating a newly-completed section of the Pan Borneo Highway.

He was confident that GPS would be capable of making the sovereign fund a reality, as Sarawak has found new sources of income, particularly from the oil and gas industry.

“Nevertheless, GPS would still need to consult experts to work out the plan,” Abang Johari added.