Budget 2027: Penang looks forward to good news on PTFC

Penang's chief minister, Chow Kon Yeow, announced that seven of the state's ten priority projects have been accepted for inclusion in the 2027 budget proposed by the federal government. These projects encompass groundwater mapping across the state, flood mitigation measures at Sungai Kelang Ubi in Bukit Mertajam, and the enhancement of electrical and mechanical infrastructure supporting Penang's flood control system.

Additional projects in the pipeline include the establishment of a public market in Teluk Kumbar, the development of a Penang STEM Talent Blueprint, as well as road improvements in Bukit Tambun and Permatang Tinggi.

Chow acknowledged that certain projects may be unveiled during the budget announcement on Friday, while others could be communicated by the relevant ministries at a later date. Among the unaccepted proposals, the chief minister affirmed that the state may still propose these projects in future budgets. Despite the state government's understanding of the finance ministry's fiscal constraints, all ten projects were deemed crucial by Chow.

The task force responsible for drafting a white paper on Penang Technological Financial Centre (PTFC) submitted the document to the finance ministry in September, following a meeting between the chief minister and Prime Minister Anwar Ibrahim. The PTFC's name was subsequently changed from Penang International Financial Centre (PIFC) to better represent Penang's role as a hub for semiconductor and electrical and electronics industries in the northern region.