Can Aspirasi fund RM500 monthly income from oil revenue?

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Aspirasi Proposes Funding RM500 Monthly Income Through Sarawak's Oil and Gas Revenue

Aspirasi has pledged to provide a basic monthly income of RM500 to every adult Sarawakian if they successfully form the state government. This initiative is intended to be financed through Sarawak's own oil and gas (O&G) revenue. To achieve this, Aspirasi suggests implementing a 30 per cent state sales tax, a significant increase from the current 5 per cent.
Proposed Funding Mechanism

The party's proposal to fund the RM500 monthly income relies directly on Sarawak's substantial oil and gas earnings. Aspirasi's president, Lina Soo, stated that this revenue, which currently goes to federal coffers, would be redirected to benefit the state's residents. This reallocation is part of a broader plan to leverage Sarawak's natural resources for the benefit of its people.
State Sales Tax Increase

A key component of Aspirasi's financial strategy involves increasing the state sales tax. The party advocates for raising this tax to 30 per cent, arguing that the current 5 per cent rate is insufficient. This proposed tax hike is intended to generate additional revenue streams that can be channelled into the basic income scheme.
Sovereign Wealth Fund for Future Generations

Beyond the immediate provision of a basic income, Aspirasi plans to allocate surplus funds from the O&G industry to a sovereign wealth fund. This fund is envisioned as a mechanism to secure the financial future of generations to come, particularly as oil and gas are finite resources. The establishment of such a fund highlights a long-term perspective on resource management.

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Can Aspirasi fund RM500 monthly income from oil revenue?

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