THE Penang government remains committed to increasing state revenue, identifying new income sources, and diversifying its resources through strategic collaboration with the Federal Government and private sector.
Speaking during the engagement session with state elected representatives regarding the Penang 2026 Budget in Komtar today, Chief Minister Chow Kon Yeow emphasised that the state administration remains optimistic despite its limited financial resources.
“We will continue to fulfil our responsibilities and work closely with the Federal Government to secure grants and implement projects that can reduce state expenditure while benefiting the people of Penang,” Chow said.
He cited the possibility of the Federal Government fully funding certain development projects, allowing the state to allocate its budget more efficiently.
Chow also urged state agencies to streamline processes and facilitate private sector participation in development initiatives.
“This is crucial. We must not become obstacles to the state’s progress. Development should not rely solely on the Penang government. Everyone must play their part,” he added.
Chow also expressed confidence that through strong partnerships with federal authorities and private entities, the state could effectively address its fiscal challenges.
“We need to ensure that our revenue continues to grow year by year through policies that are both sustainable and acceptable to Penangites,” he said.
Chow also highlighted the importance of responsible financial management, noting that the government must balance its income with prudent expenditure to avoid deficits and unnecessary spending.
“If we cannot increase our revenue, then logically, we must also control or reduce our spending,” he said.
Also present at the engagement session were Deputy Chief Minister I Prof Datuk Dr Mohamad Abdul Hamid, Deputy Chief Minister II Jagdeep Singh Deo, Penang State Secretary Datuk Zulkifli Long and State Financial Officer Datuk Zabidah Safar.
Story by Riadz Akmal
Pix by Law Suun Ting
Video by Siew Chia En