The government has set aside RM500 million in loans through the Ministry of Plantation Industries and Commodities (MPIC) for the Forest Plantation Development Programme (PPLH) under the 12th Malaysian Plan (12MP)
In a statement today, MPIC said the allocation is meant to sustain the timber sector and supply of raw materials.
It noted that timber as the third largest sub-sector after palm oil and rubber, had recorded RM17.8 billion in export revenue as at October 2020.

“The industry’s contribution to the country's export earnings is expected to surpass RM20 billion this year,” it said.
Meanwhile, MPIC said the Malaysian Timber Council (MTC) would provide RM5.4 million for the Import Assistance Programme (IAP) and RM2.8 million for the Financial Incentive for Purchase of Machinery (FIPM) next year.
MTC channelled RM2.56 million to 81 companies this year.

“MTC will also work with the Malaysian Timber Industry Board (MTIB) and industry associations to boost Bumiputera involvement and competitiveness in the international timber market through the Bumiputera Industry Development and Empowerment Programme,” the ministry said.
It is confident that the timber industry would continue to grow and prosper the country with the various incentives and allocations provided through its agencies and MTC.
MPIC is also counting on the undivided support of industry players and associations in the government’s endeavour to spur the sector for the sake of business resilience and well-being of the people.
Earlier, Minister of Plantation Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali held a meeting with MTC chairman Mazli Zakuan Mohd Noor, board of trustees and top management.
The discussions were focused on MTC's efforts to further strengthen the timber industry which is one of the major contributors to the country's commodity exports.

BERNAMA - RM500 mln for forest plantation development programme - MPIC
Sumber: Bernama