KUALA TERENGGANU: The Terengganu State Legislative Assembly today approved the State Budget 2025, amounting to RM1.887 billion.

According to BERNAMA News Agency, Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar, while concluding the debate on the Supply Enactment Bill 2025 at Wisma Darul Iman, highlighted that the state government, through the State Revenue Enhancement and Prudent Expenditure Committee, has devised various strategies to augment state-generated revenue. These strategies include short-term, medium-term, and long-term measures involving several government entities, including government-linked companies (GLCs).

Specific measures for the short and medium term were shared during the budget presentation. For the long term, the focus will be on revenue generation through industrial advancements by streamlining project approval processes and offering more competitive incentives. Industries projected to contribute significantly include the development of solar farms, carbon credit generation and tr
ading, liquefied natural gas supply and trade, green hydrogen plants, rare earth mining, and carbon capture, utilisation and storage (CCUS) initiatives.

Ahmad Samsuri noted that these initiatives require considerable time and groundwork to materialize. The revenue enhancement efforts are time-sensitive and necessitate legislative amendments, adjustments to tax schedules, bidding processes, and efforts to attract investors. On Monday, he introduced Budget 2025 for the state, themed ‘For the Future of Terengganu,’ with RM1.887 billion allocated for operating expenses, including a RM450 million contribution to the Development Fund.