Saturday, October 24, 2009

Financial Prudence: Penang Praised

The Penang state government has received praise in the auditor general's 2008 report for its cost-cutting measures and prudent ways, which have resulted in the state's consolidated funds increasing 21.1% (RM178.45 million) from RM847.45 million in 2007 to RM1.02 billion in 2008.

The report says the state's expenditure was reduced by RM35.41 million or by 11.1% due to its cost-cutting measures and priority being given to spending on the people or for people-centric programmes.

The report lists the reasons for the reduction in expenses, which included only filling up critical vacancies, reduction in hotel expenses for seminars, courses and workshops, and also using cheaper air travel and government vehicles as modes of transportation for functions.

Other reductions in expenses include the freeze on new asset purchases and other uncommitted expenditure.

Chief Minister Lim Guan Eng, an accountant by training said it was the first time that the state's consolidated funds reached above the RM1 billion mark.

The auditor general's report also named two state-owned agencies - the Penang Development Corp and the state financial department - as those among 16 agencies/departments in the country with a four star-listing for achieving above 90% in their financial management.

Credit should be given where it is due. Penang is a shining example of prudent financial management. Here is something the BN federal government can learn from Penang.

13 comments:

Anonymous said...

Now this is what I called a true profesional.. An accountant, usually know how to manage the financial..

BN should pick those qualified Minister to be put in their respective portfolio.. Does Yen Yen had any experience regarding Tourism b4 she becomes the Tourism Minister? What bout Muhiddyin, was he a principal b4? all the current minister are not expertise in their portfolio, that's why they tend to make ridiculious decision and remarks!! Imagine Zahid taking up the Defence Minister post, I bet the only time he ever hold a gun was his own 'water gun'..

Running a country is just like running a business, maintain a management.. You don't employ an accountant to be the HR Manager or a production expert to become the financial Manager..

That's why Malaysia never learn, never will and will always stay as a 3rd nation..

Anonymous said...

you kidding, BN learning from BN?

cost savings mean no stealing. and you expect them to stop stealing. how about RM42,000 for a pop of laptop. RM8,500 for a monitor.

where are you, MACC? no cars and cows? or if you investigate and catch the thieves, you will weaken a major Govt agency?

Li Huat Chai said...

Bravo Lim Guan Eng !!!

Please work hard and more hard...

Please make Penang shines...

Please make Penang a clean city...

TQ Lim Guan Eng and his team !

We will support Pakatan !!!

Anonymous said...

Well done , LGE !!!


Alf

Anonymous said...

Look at what can be done in 18 months of PR state rule. PR, Keep it up !. Salute to LGE and team. Show Malaysians the way.

Perak lost the opportunity becoz BN is power crazy. BN's policy of mega projects given to cronies and relatives is bankrupting the country.

Spend what you don't have , spend on borrowings or spend based on future incomes ,that's the fiscal maxim of UMNO. Maybe becoz they think life is short so make the most and live life to the max, why bother about ordinary rakyat?.
Cheers.

TaxPayer said...

If there is will,there will be way.the corrupted BN (previous govmnt)only has agendas for their personal benefits.The present Penang govmnt betul betul live up to the slogan "Pencapaian didahulukan,Rakyat diutamakan".Congratulations to YB LGE for the good work!

Anonymous said...

Easy, dun give money to all opposition and commies

Anonymous said...

Congrats LGE!

Hope Penang can be the MODEL state for Malaysia and hopefully the world :)

Anonymous said...

Congrats LGE and keep up the great job!

Next, allow me to post a question as I dont know where to post it...
my concern regarding the recent budget announcement on Rm50 charge fee for a principal credit card. PM Najid wants retirees to pay
$50 for a card who cannot claim tax relief deduction. So how now? Retirees at age 58 have to return the card they own for many years.
I hope PM will revise the $50 payment to $0 for real retirees.Terima kasih.

Anonymous said...

Surely this must be an indictment for the previous Koh Tsu Koon administration. They must be so embarrassed, they would wish for a hole that they can jump into and hide from public view for a while!

As for the BN scoundrels wanting to learn from this? Nah, not a chance in hell. For one thing, they will be too busy -- busily hiding the evidence that is threatening to come out from the PKFZ scandal, and all those wicked, foul deeds that the Auditor-General's team had dug up and exposed.

Rakyat Jelata

Anonymous said...

WHEN A LEADER WORK FOR THE PEOPLE WELFARE, THE STATE WILL BECOME SUCCESSFUL STATE. GOOD EXAMPLE, SINGAPORE. UNFORTUNATELY, OUR CRIME MINISTER IS BUSY THINKING HOW TO FIT HIS GRAVEYARD WITH BILLIONS WORTH OF 999.99999% GOLD.

SO FAILED LOR!

Anonymous said...

Not all accountants can be as professional as LGE- at the same time, morally, politically and legally correct.

Sad to say some do not practise what they have learned. Some just talk (as talking is easy) with no results to show.

But LGE is living up to the calling and expectation of the people of Penang and the country as a whole.

Congratulations to LGE and the People of Penang!

Anonymous said...

ONE-sorrow : umNO hates to death to see this !