GEORGE TOWN, MON: April 21, 2008 by Audrey Dermawan
After seven years of deficit budgets, the Penang Island Municipal Council (MPPP) expects to table a balanced budget by next year.
Although the council still records a deficit budget, its financial status is showing enough signs of improvement for the balanced budget prediction to be made.
According to MPPP president Datuk Zainal Rahim Seman, the council is hoping to slash the 2007 deficit budget of RM31 million by 50 per cent to RM16 million this year.
"I will try my best to ensure a balanced budget is achieved by next year. This is a challenge which I am ready to face," said Zainal, who took over as MPPP president barely a year ago.
He was speaking to reporters after the swearing-in of the new MPPP councillors today