KLANG: The policy of Ecological Fiscal Transfers (EFT) will be institutionalised to encourage the protection of the nation's forests, says Nik Nazmi Nik Ahmad.
The Natural Resources, Environment and Climate Change Minister stressed that this was part of the requirements by the Finance Ministry for EFT to be increased to state governments from RM70mil to RM150mil under Budget 2023.
ALSO READ: Budget 2023: State govts to receive RM150mil to preserve biodiversity, protect forests
"Ministry officers came to me to suggest increasing EFT allocation with the goal of addressing certain problematic states," he said at the Climate Justice Forum: Deforestation here on Sunday (March 19).
"We know that some states have been problematic when it comes to logging, with some of them losing their sustainable logging licences.
ALSO READ: Ecological Fiscal Transfer to benefit several states
"There has to be a strong institutional mechanism to encourage monitoring and implementation of ETF in the states.
"Instituting ETF would also help ensure that the money goes directly to conserving and maintaining the forest where we need it to be," he added.
