GEORGE TOWN, May 17 — The Penang government is strengthening efforts to increase state revenue through sustainable strategies that avoid placing additional financial pressure on residents amid rising living costs.
Chief Minister Chow Kon Yeow said initiatives include improving revenue collection systems, optimizing state assets, attracting high-value investments, diversifying income sources.
Without raising taxes, and enhancing fiscal governance through zero-based budgeting and transparent financial monitoring.
The state also highlighted the role of government-linked companies (GLCs) in supporting economic growth through strategic projects and asset management.
Agencies such as the Chief Minister Incorporated (CMI) contributed directly through asset optimization.
With state revenue contributions rising significantly from RM6.41 million in 2024 to RM54.2 million in 2025.
Officials said the approach aims to build a resilient and inclusive financial foundation while safeguarding public welfare.
