The Edge Markets (28/07/2020) KUALA LUMPUR : The Ministry of Plantation Industries and Commodities (MPIC) intends to change the status of oil palm replanting assistance (BTS) from loans to grants under the 12th Malaysia Plan (12MP).
Its deputy minister 1 Willie Mongin said the status of BTS had been changed to loans during the Pakatan Harapan government.
“They issued BTS grants and switched to loans, causing the country's smallholders to be affected.
“The Perikatan Nasional government is very concerned about this issue and will convert BTS into a grant and this will be realised under the 12MP,” he said at the Dewan Rakyat sitting today.
He was replying to a question from Datuk Jalaluddin Alias (BN-Jelebu) regarding the government's decision to maintain the status of BTS as a loan or revert it to grants.
In the meantime, he also asked the government to reconsider its decision of not imposing a floor price for palm oil and rubber commodities, as it would have a significant impact on local smallholders.
Mongin said the government has no plans to set a floor price for palm oil and rubber commodities at the moment.
“We have not given a ruling, but are always open to uphold the palm oil industry (as well as rubber) and help smallholders.
“We will discuss this matter at the ministry level,” he added.
Read more at https://www.theedgemarkets.com/article/mpic-intends-change-oil-palm-replanting-assistance-grants-12mp