GEORGE TOWN, May 3 – Penang’s financial position remains healthy and in surplus, meaning there is no need for a supplementary budget at this stage.
Despite rising costs affecting project implementation, said Chief Minister Chow Kon Yeow. He explained that the state is closely managing expenditure and adopting cost-control measures.
To ensure financial stability while maintaining ongoing development momentum. Chow said some unawarded projects will be rescheduled until market conditions improve.
While ongoing works will continue without disruption. He added that the state, including the Penang Development Corporation.
Will engage contractors on cost-related pressures such as fuel price increases and may share part of the burden.
The state government, he stressed, will continue prudent spending in line with federal directives for more responsible fiscal management.
