KUALA LUMPUR, October 13 — The Malaysian government has dedicated RM2.6 billion to disburse a range of subsidies and incentives to support the nation’s farmers and fishermen. This allocation represents a significant increase of RM600 million compared to the previous year, underscoring the government’s commitment to bolstering the agricultural sector. Prime Minister Datuk Seri Anwar Ibrahim, while presenting the Budget 2024, outlined various measures aimed at enhancing the livelihoods of those engaged in agriculture and fishing. Some of the key initiatives include:
- Paddy Rice Subsidy Scheme: The government has raised the rate of the Paddy Rice Subsidy Scheme from RM360 to RM500 per metric tonne. This increase aims to provide additional financial support to paddy farmers and bolster the rice production sector.
- Paddy Floor Price: The floor price for paddy has been increased from RM1,200 to RM1,300 per metric tonne. This change is designed to enhance the income of rice farmers.
- Modernizing Irrigation Infrastructure: The government plans to modernize irrigation infrastructure in areas under the Muda Agricultural Development Authority. An investment of RM3 billion will support a “five seasons in two years” paddy cultivation plan to boost rice production.
- Padi Bukit Subsidy: The subsidy allocation for padi bukit (hill paddy) or padi huma has been increased from RM40 million to RM50 million. This increase is expected to expand the cultivation area of padi bukit from 43,000 hectares.
- Fishermen Support: Specific classes of fishermen will continue to receive a diesel subsidy, maintained at RM1.65 per liter, with a yearly quota of 840 million liters. Fishermen will also benefit from a subsistence allowance of up to RM300 per month, along with a Fisherman’s Catch Incentive of up to RM1,000 per month.
- Housing and Food Security: RM10 million has been allocated for the construction and renovation of fishermen’s houses. Additionally, a RM400 million fund will be implemented for the Food Security Strengthening Program. This program focuses on increasing the production of local food crops to reduce reliance on imports.
- Fertilizer Support: RM50 million has been allocated to supply 50,000 rice farmers with bio and organic fertilizers to enhance soil fertility.
- Agrobank Support: To strengthen the production capacity of agricultural products and boost the competitiveness of young agropreneurs, Agrobank will offer loan facilities totaling up to RM430 million.
- Agricultural Disaster Fund: A RM50 million Agricultural Disaster Fund has been established to provide compensation to farmers, breeders, and fishermen affected by natural disasters. This fund will cover up to 50 per cent of losses incurred due to disasters. An additional RM50 million has been allocated for the Rice Crop Takaful Scheme, benefiting over 240,000 farmers.
These initiatives aim to invigorate the agricultural and fishing sectors, promote food security, and support the livelihoods of those engaged in these vital industries. The increased allocations reflect the government’s commitment to advancing the well-being of farmers and fishermen.
