Kuala Lumpur: The Government is providing RM2.6 billion to channel various forms of subsidies and incentives to paddy farmers and fishermen in Budget 2024, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also the Finance Minister, said the allocation has increased by RM600 million compared with this year, in line with the Government’s decision to increase the rate of the Paddy Price Subsidy Scheme from RM360 to RM500 per metric tonne.When tabling the Budget 2024 in the Dewan Rakyat, Anwar said the Government also decided to increase the floor price of rice from RM1,200 to RM1,300 per metric tonne to help farmers’ income.
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He said fishermen were also given a subsistence allowance of up to RM300 a month, and a fishermen’s catch incentive of up to RM1,000 a month, in addition to RM10 million being provided to build new and renovate dilapidated fishermen’s houses.According to Anwar, as much as RM400 million has been provided to implement the Food Security Strengthening programmme, with a special focus on increasing the production of local food crops which are still dependent on foreign imports.
To support the increase in the production capacity of agricultural products, and the competitiveness of young agropreneurs, Agrobank provides loan facilities to agro-food entrepreneurs of up to RM430 million.
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