KUCHING: Sarawak has begun a new phase of reforms to strengthen accountability in its state-owned enterprises, with digital oversight, results-based budgeting and a roadmap for financial self-reliance.
State Financial Secretary Datuk Seri Dr Wan Lizozman Wan Omar said the measures are part of the Reimbursable Advisory Services (RAS) partnership that began in 2022.
He noted that the collaboration had moved beyond studies to concrete implementation of governance reforms.
He highlighted the Sarawak State-Owned Enterprises Monitoring System (e-SOEs) as a key initiative already in place.
“Launched in December 2024, the digital platform provides a live, centralised database to track the performance of SOEs.
“With e-SOEs, oversight has become more timely, data-driven, and efficient,” he said when delivering his speech during the memorandum of agreement (MoA) signing between World Bank and Ministry of Finance on Result Based Budgeting and SOES Transformation at Riverside Majestic Hotel yesterday.
He added that the state is also carrying out a study on the Roadmap Towards Financial Self-Reliance for State Statutory Bodies and GLCs (2026–2030).
“Covering 38 entities, the study will identify challenges, propose initiatives and chart a pathway for more sustainable operations that balance socio-economic responsibilities with commercial objectives.”
According to Wan Lizozman, SOEs are vital players in Sarawak’s economy, serving strategic sectors from energy and infrastructure to essential services.
To modernise their framework, he said new policies and laws are being developed, including a State Ownership Policy, a dedicated SOE Law and a Corporate Governance Code.
He stressed that the transition to Results-Based Budgeting (RBB) would be equally significant.
“RBB represents a fundamental shift in how we plan and manage public finances. It compels us to ask difficult but necessary questions: What are we achieving? How do we ensure that every ringgit spent delivers maximum benefit to our rakyat?” he said.
He explained that the shift will be complemented by a Fiscal Risk Management Framework, designed to strengthen links between policy and budget, build resilience against external shocks and safeguard long-term sustainability.
Wan Lizozman further emphasised that SOE reforms and RBB are aligned with the state’s Post COVID-19 Development Strategy 2030, ensuring that growth remains inclusive and built on accountability.
He noted by supporting these reforms, will be three priorities: capacity building for civil servants, greater use of technology and data, and a stronger professional culture in public finance management.
“Our success will not only be judged by individual projects or isolated milestones, but whether we collectively deliver consistent value, strengthen trust in government, and improve the daily lives of our people,” he said.
