DBKL Launches Endowment Fund To Secure Fiscal Sustainability

KUALA LUMPUR, July 10 (Bernama) -- The Kuala Lumpur City Hall (DBKL) Endowment Fund, established by DBKL today, serves as a progressive fiscal instrument to strengthen the financial sustainability of the Local Authority (PBT).

Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa, in congratulating DBKL for the initiative, said DBKL now plays a much broader role beyond the conventional functions of a PTBT.

"In managing a complex city like Kuala Lumpur, relying solely on the annual budget is no longer sufficient.

“The reality is that fiscal pressures on DBKL continue to rise every year. In 2025, the width of DBKL's deficit will reach RM325.9 million. At the same time, the needs of the people are also becoming wider, more diverse and urgent,” she said in a Facebook post today.

Zaliha said that apart from development and maintenance works, which cost almost RM1 billion a year, DBKL also plays a role as an implementer of social functions, including welfare assistance and community programmes, involving more than RM140 million a year.

She said that with the establishment of the fund, it makes DBKL not only one of the earliest PBTs to explore the model, but also the first in the country to receive tax relief approval from the Inland Revenue Board (IRB).

“This fund represents a fresh concept, a culture of collective accountability that recognises the role of the people as trustees of the city's future.

“We are introducing the concept of 'shared stewardship', where urban development is no longer seen as a mere administrative matter, but as a joint effort between the government, city residents and the private sector,” she said.

She called on all parties, including corporates, individuals and communities,  to become DBKL's strategic partners in contributing and jointly revitalising the Endowment Fund.

She said that every contribution not only helps support the people’s needs but also plants the seeds for a more sustainable and just future for Kuala Lumpur.

“Let's develop this city with shared spirit, values ​​and social ownership,” she said.

-- BERNAMA