PUTRAJAYA – The RM500 million loan offered under the Forest Plantation Development Programme (PPLH 2.0) is different from the previous programme as the current one is shariah-compliant.
Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said the advantage of PPLH 2.0 is that dealings with customers are done transparently.
“Customers are also provided with clear information on the total amount of financing without any additional or hidden charges, and are covered by takaful,” he said in a statement here today.
Khairuddin said financing under the programme is the only soft loan provided for the development of forest plantations in the country.
He said the previous PPLH was carried out in 2007 until last year, where as of December 31 last year, a total of 126,457.99ha of forest plantations were developed nationwide and involved 82 agreements by 70 companies.
Khairuddin said the ministry hopes borrowers will make loan repayments based on the agreement to ensure the continuity of forest plantation development programmes, in ensuring the sustainability and competitiveness of the Malaysian timber industry.
He said the ministry, together with the Malaysian Timber Industry Board and Forest Plantation Development Sdn Bhd, is always committed in improving the programme.
The RM500 million loan provided under PPLH 2.0 by the ministry under the 12th Malaysia Plan proves the government’s concern to ensure continuous supply of raw material for the timber industry, he added. – Bernama, February 6, 2021
