Kok: Green light from Finance Ministry likely for windfall levy trust fund

Kok said a decision from the Finance Ministry on the proposal will be known by next month. She described the response from the Finance Ministry so far as “positive”.

KUALA LUMPUR: The Finance Ministry is likely to agree on the proposal to channel the 3% windfall profit tax (WPT) on palm oil producers into a trust fund for biodiesel and oil palm smallholders’ development, according to Primary Industries Minister Teresa Kok.

Speaking during the Concorde Club forum attended by journalists, Kok said a decision from the Finance Ministry on the proposal will be known by next month. She described the response from the Finance Ministry so far as “positive”.