KOTA KINABALU, Nov 20 (Bernama) -- The Sabah State Legislative Assembly (DUN) today approved the Supply Bill 2025 (Sabah Budget 2025) after a debate and winding up session since last Monday.
The bill was passed after receiving the support of the majority of Sabah State Assemblymen through a voice vote.
Sabah State Assembly Speaker Datuk Seri Kadzim M Yahya made the announcement after the third reading of the bill by state Finance Minister Datuk Seri Masidi Manjun.
Last Friday (Nov 15), Masidi presented the RM6.42 billion budget, which is also the highest in the state’s history, with an estimated surplus of RM24.08 million.
Masidi, when tabling the budget themed "Sabah Prosperous, Rakyat Sejahtera", said the state government projected revenue of RM6.44 billion next year, making it a surplus budget.
Earlier, when winding up the debate today, Masidi said for this year, the state revenue collection to date is RM5.93 billion or 87.6 per cent of the Revised Revenue Estimate.
"Sabah's financial position remains strong with a financial surplus of RM624.6 million. This reflects prudent and effective financial management in balancing state revenue with expenditure.
"This surplus also shows the state government's commitment to ensuring that financial resources are strategically managed to meet the development and welfare needs of the people. However, the state government will not forget or feel comfortable with this position," he said.
He said the implementation of the state sales tax on five products, namely scrap metal and waste, ammonia and urea, methanol, silica sand, and oil palm biomass, had managed to generate RM226.01 million as of last month (October).
He said preparations to impose a state sales tax on gold and silver was currently in the final stages and will come into effect in January next year.
"It is estimated that the new sales tax can contribute about RM5.7 million next year depending on the price and quantity of the product," he said.
Kadzim then adjourned the session to tomorrow.
--BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
