SHAH ALAM – Selangor’s financial position continues to strengthen, with its consolidated fund reaching RM4.36 billion this year, an increase of RM751.46 million from RM3.61 billion in 2023.
Menteri Besar Datuk Seri Amirudin Shari highlighted that as of November 13, the state’s revenue collection stood at RM2.43 billion, equivalent to 110.43% of the estimated RM2.2 billion target for 2024.
“Key contributors to the state’s revenue include land premiums (RM1.05 billion), land tax revenue (RM592.65 million), and federal grants (RM209.20 million),” Amirudin said while presenting the Selangor 2025 Budget at the Selangor Legislative Assembly today.
Tax revenue amounted to RM704.95 million, while non-tax revenue and non-revenue receipts stood at RM1.49 billion and RM226.55 million, respectively.
Debt settlements and new revenue strategies
Amirudin lauded Selangor’s efforts in settling debts with the federal government, including the final instalments for the Water Supply Project and the Selangor Trust Fund, amounting to RM19.21 million and RM1.89 million, respectively.
These repayments, he said, pave the way for new revenue strategies, such as enhancing contributions and dividends from state subsidiaries, statutory bodies, and government agencies.
Entities like Menteri Besar Selangor (Incorporated) (MBI), the Selangor Water Management Authority (LUAS), and others have contributed RM30 million out of the RM40 million targeted for 2024, with the remainder expected by year-end.
Looking ahead, the state government projects RM121 million in revenue from penalties under the Zero Discharge Policy outlined in the LUAS Enactment 1999. It also plans to review raw water extraction fees, potentially raising annual revenue from RM18 million in 2023 to RM92 million starting in 2025.
Two-month bonus for Selangor civil servants
In recognition of the contributions of Selangor’s civil servants, Amirudin announced a Special Financial Assistance (BKK) equivalent to two months’ salary, disbursed in stages.
“The first phase will be paid on December 31, and the second phase on March 25 next year, coinciding with the Aidilfitri celebration,” he said. This is in addition to the BKK disbursed earlier this year on February 1 and during Aidilfitri.
Economic achievements and milestones
Amirudin also noted that Selangor was the first state in Malaysia to record RM400 billion in economic activity.
“Despite challenges like the Covid-19 pandemic, the state has consistently exceeded revenue targets and improved its financial position, achieving a RM751 million increase in the consolidated fund to RM4.36 billion,” he added.
These successes, he said, are a testament to the dedication of Selangor’s departments, local authorities, and district officers. – November 15, 2024