KUCHING: The Sarawak government will adhere to rigorous standards in pursuing alternative financing for development projects, says Datuk Patinggi Abang Johari Tun Openg, dismissing allegations that it is another 1MDB in the making.
The Chief Minister said the alternative financing model involved tapping into funding provided by the state-owned Development Bank of Sarawak to meet any potential shortfall in the state budget without touching its reserves.
"The financial provisions for these progress payments will be provided for in our normal annual budget," he told the Sarawak Legislative Assembly when winding-up the debate on the state budget on Wednesday . "Most importantly, borrowing only for strategic and productive purposes and not for financing of operation expenditure," he said.
Abang Johari also took aim at DAP's Pending assemblyman Violet Yong for implicating his son with a company that obtained a Petronas contract this year. "Indeed, it is malicious and vexatious on the part of to have created a negative perception of Abdillah who is not here to defend himself," Abang Johari said.
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