DPM Datuk Seri Fadillah Yusof speaks during the launch of the 4th Palm Biodiesel Conference and the flag-off of Petronas’ first palm biodiesel B100-fuelled road tanker in Putrajaya October 3, 2023. ― Bernama picPUTRAJAYA, Oct 3 ― The Ministry of Plantation and Commodities has submitted a proposal to the Ministry of Finance for the windfall profit levy price for Sabah and Sarawak to be at 1.5 per cent under Budget 2024, compared to the current 3.0 per cent.
“This was one of the things that they had raised. They are not objecting to the WPL, but if it is imposed, they want to look at how the levy can benefit the industry, including in terms of incentives and programmes such as oil palm replanting,” he said. The MPOA also called for tax incentives to support large-scale replanting initiatives, recognising its critical role in protecting the productivity of the sector to support its supply chain and maintain competitiveness.