GEORGE TOWN: Penang does not need to revise its state budget for now, despite economic uncertainty and rising costs, says Chief Minister Chow Kon Yeow.
Chow said the state’s financial position remained healthy and that it was still recording a surplus.
“If we can save, there is no need to revise the budget,” he told reporters on Thursday (Apr 30).
Chow said the state is managing expenses, including rescheduling projects not yet awarded, in response to rising costs and spending demands.
He said projects already underway would continue as planned.
Chow added that some contractors had sought consideration over rising diesel prices.
“Penang Development Corporation (PDC) has decided to share the burden with contractors to help ease the situation,” he said.
He said there was no need for a supplementary budget at this point, as long as costs remained under control and state revenue collection met projections.
