KUALA LUMPUR (Oct 30): The Ministry of Plantation Industries and Commodities (MPIC) opined that Budget 2022 focuses on a more targeted development of the agricultural commodity sector.
Minister Datuk Zuraida Kamaruddin noted that the Budget had outlined several measures, including introducing and expanding the use of the RRIM Hydrobest technology to smallholder farmers through a matching grant of RM15 million to help improve the socio-economic status of bottom 40% income group (B40) smallholder farmers.
In a statement on Saturday (Oct 30), she said the government had also announced the implementation of the National Rubber Industry Transformation Programme, which aims to unite smallholder farmers, rubber entrepreneurs and small cooperatives in a larger consortium, to be able to process rubber scrap into rubber creeps.
Furthermore, to support the oil palm industry, the government had allocated RM35 million to implement the Smallholder Oil Palm Replanting Stimulus Scheme and RM20 million to address the anti-palm oil campaign at the international level.
She said under Budget 2022, the government had allocated a total of RM671.5 million for the ministry, comprising RM417.5 million for its operating expenditure and RM254 million for development expenditure.
“Although this amount is 7.95% lower compared to the 2021 allocation, the ministry believes that this shows the government’s confidence that commodity prices will be more stable throughout 2022.
“The MPIC would like to express its highest appreciation for the allocations made to drive growth of the agri-commodity industry,” said Zuraida.
She added that the ministry remains committed and ready to implementing programmes and initiatives towards strengthening the country’s economy.
See more Budget 2022 highlights here.