KUALA LUMPUR: The allocation of incentives for oil palm replanting programmes may be increased if companies working in the industry can prove that they will work with smallholders, says Datuk Seri Anwar Ibrahim.
“The overwhelming performance of the palm oil sector is also contributed by smallholders," he said at the launch of the Malaysian Palm Oil Board International Palm Oil Congress and Exhibition 2023 at the Kuala Lumpur Convention Centre here Wednesday .“Recognising their vital role, I have announced the incentive for oil palm replanting programmes with an allocation of RM100mil in Budget 2024.
“I am willing to increase this allocation to enhance the synergy between the ones who have better technologies and the smallholders,” said Anwar. “The palm oil industry stands out as a robust cornerstone in the pursuit of the Madani Economy, propelling Malaysia towards its aspiration of becoming one of the world's top 30 economies,” said Anwar.