Govt allocates RM70mil to improve palm oil industry's sustainability

KUALA LUMPUR: A total of RM70 million is allocated to improve the palm oil industry’s sustainability, including encouraging the recycling of palm waste material, Minister of Finance Tengku Datuk Seri Zafrul Abdul Aziz said.

"The government will also intensify efforts to promote and campaign to deal with global anti-palm oil movement,” he said at the tabling of Budget 2023 at the parliament today.

He said the Malaysian Sustainable Palm Oil (MSPO) certification has covered 98 per cent of palm oil cultivation.

On foreign workers levy, he said a multi-tiered levy for foreign workers is targeted to be implemented by 2023.

"Through the approach, companies with a high number of foreign workers such as the plantation and construction sectors will be subjected to a higher levy rate and the government plans to re-channel the additional levy revenue to support employers funding automation initiatives,” he said.

He added that the policy would incentivise and help employers reduce dependency on foreign workers. - Bernama

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