Quit rent hike in Sarawak will help increase local councils revenue

SIBU: Local authorities in Sarawak are expected to record a higher revenue this year following the revision in quit rent from Jan 1.

"Some of the oil palm plantations used to pay only RM1mil in quit rent per year however, under the new rate, the amount is expected to increase up to RM10mil annually," said Deputy Premier Datuk Seri Dr Sim Kui Hian (pic) after witnessing the installation of Sibu Rural District Council (SRDC) councillors for the term 2023-2025 on Monday (April 3).