Malaysia: Financial incentive for sugar manufacturers mere stopgap measure, says deputy minister

Published 2024년 3월 25일

Tridge summary

In Malaysia, Deputy Minister of Domestic Trade and Consumer Affairs, Fuziah Salleh, has announced a RM42 million financial incentive for sugar manufacturers as a temporary measure to ensure a steady sugar supply. This incentive, aimed at stabilizing sugar prices and production, is not a long-term solution or a subsidy. The government is actively seeking a sustainable solution through discussions with stakeholders, including micro, small, and medium traders. Additionally, Fuziah highlighted that the government continues to subsidize wheat flour under the Payung Rahmah initiative, part of Budget 2024, despite no subsidy claims due to low production and demand.

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Original content

KUALA LUMPUR (Mar 25): Deputy Minister of Domestic Trade and Consumer Affairs Fuziah Salleh has clarified that the provision of a RM42 million financial incentive to sugar manufacturers is only a temporary measure aimed at ensuring ample supply of this essential item. Fuziah said that the financial incentive to sugar manufacturers is neither a subsidy nor a long-term solution. Instead, it serves as a temporary mechanism until the government reaches a final decision regarding the pricing and production of sugar. "The government is currently engaging with all stakeholders in the industry, including micro, small, and medium traders (PMKS), to find a sustainable solution to the issue," she said in response to Datuk Seri Wee Ka Siong (BN-Ayer Hitam) during the question-and-answer session in Dewan Rakyat on Monday. Earlier, Fuziah said that two local sugar-producing companies, namely MSM Malaysia Holdings Bhd and Central Sugars Refinery Sdn Bhd (CSR), have been instructed by the ...

Source: Theedgemarkets