50 PCT CPO WINDFALL TAX TOWARDS BIOFUEL STABILISATION FUND - TERESA KOK (SCREEN)

NIAM SEET WEI

KUALA LUMPUR, Jan 7 -- At least 50 per cent of the crude palm oil (CPO) windfall tax will be channelled to the biofuel stabilisation fund, which is expected to be set up by the first quarter of the year, says Primary Industries Minister Teresa Kok.

“The Finance Ministry has given the green light to us that at least half of the windfall levy is for the biodiesel stabilisation fund.

“We are still working with them on the details,” she told reporters on the sidelines of a forum, ‘We Love Palm Oil’, here today.

Last December, the Finance Ministry said Kok approved her ministry’s proposal for three per cent of the windfall tax imposed on oil palm planters to be channelled back to the trust fund.