Kuala lumpur: The Kuala Lumpur City Hall (DBKL) Endowment Fund, established by DBKL today, serves as a progressive fiscal instrument to strengthen the financial sustainability of the Local Authority (PBT).

According to BERNAMA News Agency, Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa, in congratulating DBKL for the initiative, said DBKL now plays a much broader role beyond the conventional functions of a PBT. “In managing a complex city like Kuala Lumpur, relying solely on the annual budget is no longer sufficient,” she stated. The reality is that fiscal pressures on DBKL continue to rise every year, with the deficit projected to reach RM325.9 million by 2025. Concurrently, the needs of the people are becoming wider, more diverse, and urgent, she noted in a Facebook post.

Zaliha emphasized that apart from development and maintenance works, which cost almost RM1 billion annually, DBKL also serves as an implementer of social functions, including welfare assistance and community programs, involving over RM140 million each year. With the establishment of the fund, DBKL emerges as one of the earliest PBTs to explore such a model and the first in the country to receive tax relief approval from the Inland Revenue Board (IRB).

“This fund represents a fresh concept, a culture of collective accountability that recognizes the role of the people as trustees of the city’s future,” Zaliha explained. She introduced the concept of ‘shared stewardship,’ where urban development is perceived as a joint effort between the government, city residents, and the private sector, rather than a mere administrative matter.

Zaliha urged all parties, including corporates, individuals, and communities, to become DBKL’s strategic partners in contributing and jointly revitalizing the Endowment Fund. She highlighted that every contribution not only supports the people’s needs but also plants the seeds for a more sustainable and equitable future for Kuala Lumpur. “Let’s develop this city with shared spirit, values, and social ownership,” she encouraged.