‘Pakai kereta cari duit, bukan habis duit beli kereta’: Premier defends alternative funding strategy

Abang Johari delivering his ministerial winding-up speech at DUS Sitting on Dec 3, 2025. Photo credit: Ukas

By Karen Bong

KUCHING, Dec 3: Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg has again defended the State’s Alternative Funding initiative, comparing it to a family taking a car loan to start a business which he described as a smart financial move to generate income, not an act of draining savings.

In his ministerial winding-up speech at the Sarawak Legislative Assembly (DUS) today, Abang Johari said certain elected representatives continued to misunderstand or deliberately ignore the mechanics of the initiative, despite his earlier explanations.

To drive home his point, the Premier used a simple analogy: “Instead of paying cash upfront, a family takes a hire-purchase loan to buy a car to run a small business. They keep their savings, earn money using the car, and pay the instalments.

“Inilah yang kita katakan, pakai kereta cari duit, bukan habiskan duit untuk beli kereta. Tapi ada orang tidak faham atau buat-buat tidak faham,” he said.

Abang Johari said the same principle applies to the State’s development strategy through Alternative Funding that allows Sarawak to build long-term assets, generate economic returns, and manage cash flow prudently without compromising reserves.

“By undertaking these projects today, we beat inflation because delaying them will only result in much higher costs in the future,” he said, adding that these investments will benefit Sarawakians for generations.

Abang Johari highlighted that the initiative has already enabled major strategic projects across the state, including the coastal road network, second trunk road and 14 bridges, the water supply grid, digital infrastructure, and the Autonomous Rapid Transit (ART) system.

“These projects are creating multiplier effects in the economy, as evidenced by last year’s 18.7 per cent growth in our construction sector,” he said.

He stressed that Alternative Funding is designed to efficiently manage Sarawak’s cash flow while accelerating strategic infrastructure development crucial for economic expansion.

“The claim that the deficit figures presented do not account for spending under the Alternative Funding initiative shows ignorance of the subject matter,” he criticised.

He emphasised that financial commitments under the scheme are fully budgeted and openly presented in the annual State development expenditure, which is debated and approved by the House.

“To claim otherwise is factually incorrect, misleading the public, and casts unwarranted doubt on a process that is transparent, properly accounted for, and subject to legislative oversight,” he added.

Abang Johari reiterated that Sarawak upholds strict financial discipline, good governance and transparency in managing Alternative Funding, noting that all financing comes solely from the state’s own Development Bank of Sarawak (DBOS).

“There will be regular updates on physical and financial progress with strict compliance to all regulatory reporting requirements. Allegations that we circumvent statutory budgeting processes are baseless and made in bad faith,” he said.

Ending firmly, Abang Johari said he hoped this would be the final clarification needed on the matter.

“If still in doubt, I encourage the relevant YBs to equip themselves with further basic banking and finance discipline,” he remarked. — DayakDaily