CEO Morning Brief

Govt Tables Supplementary Supply Bill for First Reading, Seeking RM23.48b for Additional Expenditure

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Publish date: Fri, 15 Mar 2024, 10:28 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (March 14): The Supplementary Supply (2023) Bill 2024 was tabled for first reading in Dewan Rakyat on Thursday, paving the way for the federal government's request for RM23.48 billion from the Consolidated Fund to accommodate additional expenditure.

According to the bill, it involves the disbursement of an amount not exceeding RM23.48 billion from the Consolidated Fund for additional expenditure for services and purposes specified in the Schedule for the year 2023 that were not allocated or fully provided for by the Supply Act 2023 (Act A1679).

The additional expenditure will involve 10 services, with the largest allocation going to Treasury General Services amounting to RM14.49 billion, followed by the allocation to the Contribution to Statutory Fund (RM4.2 billion) and the Ministry of Education (RM1.97 billion).

Meanwhile, the Ministry of Domestic Trade and Cost of Living is allocated RM1.17 billion, followed by the Ministry of Health (RM687.89 million), the Ministry of Defence (RM410.53 million), the Election Commission (RM300 million), the Public Service Department (RM153.26 million), the Ministry of Local Government Development (RM56.91 million), and the Ministry of Youth and Sports (RM32 million).

Last year, the federal government tabled a RM60.17 billion supplementary budget for the year 2022.

In addition, the federal government has also tabled a second bill, the Supply (Reallocation of Appropriated Expenditure) Bill 2024, in the Lower House, to reallocate RM648.54 million to facilitate the restructuring of the Cabinet following Prime Minister Anwar Ibrahim's first Cabinet reshuffle in December 2023.

The biggest reallocation was RM340.1 million for the Ministry of Energy Transition and Water Transformation, which was split from the Ministry of Natural Resources, Energy, and Climate Change.

The second biggest reallocation was RM182.26 million for the Ministry of Digital, followed by the Prime Minister’s Department (RM64.91 million), the Ministry of Communications (RM37.38 million), the Public Service Department (RM21.67 million), the Ministry of National Unity (RM1.43 million), and the Ministry of Entrepreneur and Cooperative Development (RM783,700).

Both bills were tabled by Deputy Finance Minister Lim Hui Ying and will be debated in this current Parliament session.

Source: TheEdge - 15 Mar 2024

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