KUALA LUMPUR: The Kuala Lumpur City Hall (DBKL) has launched an endowment fund aimed at securing long-term financial sustainability for the city.
The initiative marks a shift from traditional fiscal models, positioning DBKL as a pioneer among local authorities in Malaysia.
Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa commended the move, highlighting the growing financial challenges faced by DBKL.
“In managing a complex city like Kuala Lumpur, relying solely on the annual budget is no longer sufficient,“ she said in a Facebook post.
The fund addresses a projected deficit of RM325.9 million in 2025, driven by increasing public needs and rising operational costs.
Beyond infrastructure and maintenance, which cost nearly RM1 billion annually, DBKL also funds social programmes, including welfare assistance, amounting to over RM140 million per year.
Zaliha emphasised the fund’s innovative approach, describing it as a model of “shared stewardship” where government, residents, and private entities collaborate for urban development.
The initiative also makes DBKL the first local authority in Malaysia to receive tax relief approval from the Inland Revenue Board (IRB).
She urged corporations, individuals, and communities to contribute, framing donations as investments in Kuala Lumpur’s future.
“Every contribution not only helps support the people’s needs but also plants the seeds for a more sustainable and just future,“ she added. – Bernama
