KUALA KANGSAR: Perak is on track to record its fifth consecutive year of financial surplus, with state revenue collection reaching RM1.1 billion as it moves towards its RM1.48 billion target.
Perak Menteri Besar Datuk Seri Saarani Mohamad said the state’s improving financial position was supported by sustained economic growth, with its Gross Domestic Product (GDP) reaching RM91.5 billion last year.
He said the state government was confident it would turn its projected deficit of RM95.5 million into a surplus this year.
“The state government is expected once again to turn the projected deficit of RM95.5 million into a financial surplus, marking its fifth consecutive year of achieving a surplus,” he said.
He was speaking at the Pledge of Loyalty and Investiture Ceremony held in conjunction with the 70th birthday of Sultan of Perak Sultan Nazrin Muizzuddin Shah at Istana Iskandariah.
Saarani said Perak’s economy grew by 2.8 per cent in 2023 before accelerating to 4.8 per cent in 2024 and 5.7 per cent last year.
He said the manufacturing sector had emerged as a key driver of the state’s economy, recording growth of 15.2 per cent in 2025, three times higher than the previous year.
“The state’s unemployment rate also declined from 4.8 per cent in 2021 to 3.5 per cent last year, while the number of employed people reached 1.2 million in the second quarter of this year,” he said.
He said advertised job vacancies increased by 40.7 per cent to 71,815 last year, with 14,105 job placements recorded.
He said placements offering salaries of RM2,000 and above increased by 107 per cent, while those paying RM3,000 and above rose by 93 per cent compared with the previous year.
On the rising cost of living, Saarani said the state government had increased the allocation for the Pasar Sejahtera Rakyat Perak programme to RM3.2 million.
He said 132 programmes had been held as of September, benefiting more than 28,000 people.
“The state government had also introduced several measures under the Perak Sejahtera: Prihatin Rakyat 2026 initiative, including extending payment periods, waiving penalties and reducing land-related fees,” he said.
On development projects, he said, seven of the 10 proposals submitted by the state government had been approved under the 13th Malaysia Plan.
“They include an education complex in Sitiawan, cardiothoracic surgical facilities at Hospital Raja Permaisuri Bainun, the Sungai Sepetang flood mitigation project, new schools in Ipoh and Chemor, the Perak Elephant Sanctuary Centre and the Proton City Fire and Rescue Station,” he said.
He said the Automotive High Tech Valley (AHTV) in Tanjung Malim and Lumut Maritime Industrial City (LuMIC) were also among the state’s strategic growth areas included in the national development agenda.
“At AHTV, Proton had centralised all its vehicle production activities, with its workforce increasing from 1,500 in 2021 to 7,400 currently,” he said.
He said electric vehicle production, which stood at about 100,000 units in 2023, was expected to reach 300,000 units by 2027.
“In Lumut, the Third Regasification Terminal (RGT-3) project by Petronas Gas Bhd is expected to strengthen the country’s energy infrastructure and boost LuMIC’s role in the regional energy network,” he said.
Meanwhile, Saarani said the state government remained focused on addressing long-term challenges, particularly water security.
He said the North Perak Water Supply Scheme agreement had been finalised, with the federal government securing RM5 billion in financing for its implementation.
The project is expected to address water shortages that have affected the region for decades, while supporting agricultural activities and improving farmers’ livelihoods.