The First Meeting of the 13th Legislative Council session ended yesterday with the council unanimously approving a National Budget allocation of $5,300,000,000.00 or 5.3 billion dollars for the 2017-2018 financial years, which will take effect on the 1st of April this year. The Legislative Council approved the national budget after deliberating for 11 days.
The national budget allocation proposed by Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim, Minister at the Prime Minister's Office and Second Minister of Finance was approved during the morning's session. The Bill to supply the sum from the Collection of Monies of the Consolidated Fund for the service of Financial Year 2017-2018 and to allocate the money for specific purposes is now known as the Supply Act 2017-2018. A certain amount of the allocation will be utilised for the financial service and specific purposes of the 12 ministries and their departments for the Financial Year 2017/2018 and a sum of 1 thousand million dollars is allocated for development.