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BUSINESS • 22/10/2024 11:17 AM

Govt Allocation To Revitalise Rubber Plantations Supports Glove Industry Growth - MARGMA

By Danni Haizal Danial Donald

KUALA LUMPUR, Oct 22 (Bernama) -- The government’s allocation of RM20 million to revitalise idle private rubber plantations and RM60 million for latex production under the Rubber Industry Smallholders Development Authority (RISDA) are significant steps forward in supporting the growth and sustainability of the rubber glove industry.

Malaysian Rubber Glove Manufacturers Association (MARGMA) president Oon Kim Hung said the initiatives are set to strengthen latex production, ensuring a more stable and reliable supply of raw materials for rubber glove manufacturers.

“Overall, Budget 2025 is a positive and progressive move for the industry and the nation. The RM1 billion allocation for green technology financing highlights the government’s commitment to sustainable development and environmental protection - key areas that our industry players are actively advancing,” he told Bernama.

Recently, Prime Minister Datuk Seri Anwar Ibrahim said the government, through  RISDA, will implement the latex production promotion for smallholders programme through a matching grant amounting to RM60 million. Anwar, who is also the finance minister, said the allocation aims to encourage rubber smallholders to produce latex rubber.

He also said abandoned, privately owned rubber estates will be revitalised with an allocation of RM20 million. “This effort will be implemented through a land leasing approach, where abandoned land will be leased for re-cultivation, and profits will be shared based on agreements among smallholders, implementing agencies, and landowners,” he said when presenting Budget 2025 in the Dewan Rakyat recently.

Meanwhile, Oon said the increase in the minimum wage to RM1,700, from RM1,500, effective Feb 1, 2025, will benefit both workers and the economy. “We fully support this initiative and are committed to driving productivity while ensuring a fair and equitable wage structure for all,” he added.

-- BERNAMA

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