Budget 2024: RM2.6bil for subsidies, incentives to benefit rice farmers, fishermen

PETALING JAYA: Global food supply disruptions have a direct impact on the prices of basic necessities in the country, says Datuk Seri Anwar Ibrahim.

The Prime Minister said Malaysia had experienced this after 19 countries decided to restrict exports of white rice, leading to prices surging in the country.

While tabling Budget 2024 in Parliament on Friday (Oct 13), Anwar, who is also Finance Minister, said the government will continue efforts to ensure food security in the country.

Under the second Madani Budget, RM2.6bil will be allocated for various subsidies and incentives for rice farmers and fishermen.

"This is an increase of RM600mil compared to last year, in line with the government's decision to increase the Padi Price Subsidy Scheme from RM360 to RM500 for each metric tonne," he said.

Anwar also said the floor price for padi would be set at RM1,300 next year to help rice farmers.

For the benefit of fishermen, the government will maintain the diesel price of RM1.65 per litre for specific classes of fishermen with a quota of 840 million litres a year.

"Fishermen will also be given an allowance of RM300 a month and Catch Incentive of up to RM1,000 a month," Anwar said.

He added that the government would also allocate RM10mil to build and repair fishermen's houses.