KL helps rubber planters

KL helps rubber planters

KUALA LUMPUR (AFP): Malaysian on Friday approved a one billion
ringgit (US$263 million) fund to provide loans to some 300,000
rubber planters hit by flagging prices.

The decision to set up the fund was made by a special cabinet
committee to raise the income of rubber smallholders, said Deputy
Prime Minister Abdullah Ahmad Badawi who chaired a four-hour
meeting.

"This cabinet committee agrees that the natural rubber
industry is a vital industry and therefore the welfare of rubber
smallholders must be looked after," he was quoted as saying by
the Bernama news agency.

"We hope the plight of these smallholders can be alleviated
and what the government has done can assist these smallholders to
overcome the impact of flagging rubber prices."

Abdullah said the fund, which would be disbursed through
various agencies, would be used for rubber replanting and to help
the smallholders cultivate other crops for extra income.