Proposal To Raise WPL Threshold On FFB Will Strengthen Palm Industry's Competitiveness - FELDA

KUALA LUMPUR, Oct 18 (Bernama) -- The MADANI government’s proposal to raise the windfall profit levy (WPL) threshold value on palm fresh fruit bunch (FFB) is seen as a way to strengthen the competitiveness of the country’s palm industry, according to the Federal Land Development Authority (FELDA).

In the Budget 2025 presentation in the Dewan Rakyat today, Perdana Menteri Datuk Seri Anwar Ibrahim said that the government plans to raise the threshold value for the WPL on FFB in Peninsular Malaysia to RM3,150 and RM3,650 for Sabah and Sarawak.  

Additionally, FELDA also said that the government's proposal to increase the allocation to the agency would strengthen the agricultural sector, particularly the palm industry.

'With this comprehensive budget support, FELDA and the settlers will continue to work hard to ensure more sustainable economic growth to enhance the quality of life for the settlers.

“FELDA is confident that with strong cooperation between the government and relevant agencies, the vision of creating a prosperous MADANI nation and a thriving populace can be achieved,” it said in a statement today.

Earlier, Anwar who is also the Finance Minister informed that the government would increase the allocation for FELDA, FELCRA Bhd, and the Rubber Industry Smallholders Development Authority (RISDA) to RM2.6 billion in Budget 2025 from RM2.4 billion in the previous budget.

-- BERNAMA