Malaysia Forest Fund
Contact Us +60 3 8958 1118
Follow Us

Malaysia Forest Fund

Incentive To States To Preserve Nature Upped To RM100mil

PETALING JAYA: The government has increased its incentive for states to preserve forest and marine areas from RM70 million to RM100 million.

Prime Minister Ismail Sabri Yaakob said under the ecological fiscal transfer (EFT) plan, the government would fund states that gazette new protected areas from development.

“The incentive is to increase conservation efforts of land and marine biodiversity areas,” he said in a statement today.

The EFT allows states to be reimbursed by the federal government for projects that fit a set of criteria on natural or wildlife conservation. It was first introduced in 2019, with a RM70 million allocation in the recent budget.

Two states are reported to have sought compensation for keeping their forest reserves intact, namely Pahang and Kedah. Kedah sought RM100 million to keep the Ulu Muda forest reserve in Sik as a water catchment area instead of allowing it to be logged.

Ismail also announced funding of RM330 million to all state reserves under the Tahap payout plan, with plans to be revealed by the Treasury later.

“The federal government is committed to ensuring good ties with the states. This is manifested in a myriad of allocations given to state governments yearly,” he said.

Ismail earlier chaired the national finance council meeting attended by all menteris besar and chief ministers.

Source : msn.com

No Comments

Sorry, the comment form is closed at this time.