Revenue sharing only possible with good finances

 Reports by MARTIN CARVALHO, RAHIMY RAHIM and FATIMAH ZAINAL

ALTHOUGH a formula on revenue sharing with Sabah and Sarawak will be inked next year, this will only be implemented when government’s finances permit it, said Finance Minister Lim Guan Eng.

“We have to wait until our financial standing permits,” he replied Wong Chen (PH-Subang), blaming the current financial constraints on the previous administration.

Wong asked when the federal government would implement a revenue sharing formula and if this would include revenue derived from corporate and personal taxes.

Revenue sharing with Sabah, and Sarawak as well as higher oil royalties are among the promises made by the Pakatan Harapan government in its election manifesto.

Datuk Seri Nancy Shukri (GPS-Batang Sadong) then asked Lim to give a proper deadline on the implementation.

Telling her to be patient, Lim said before Pakatan came to power, there was no plan to share revenue with Sabah and Sarawak.

“This is wrong. I was involved in the committee discussions. Please retract the statement,” said the former Minister in the Prime Minister’s Department.