MALAYSIA’s rehabilitation for its addiction towards cheap foreign labour is now long overdue.
Covid-19 has come to disrupt the supply since last year and the withdrawal symptoms have already started to crop up.
The road to addiction may have very well started in the 1980s during Malaysia’s journey of industrialisation and economic growth where the temporary solution to meet the severe labour shortage was foreign workers.
The Medan Agreement was inked in 1984 for plantation and domestic workers while the later part of the 1980s would see the green light given to recruit workers from the Philippines, Thailand and Bangladesh. It was not really a problem, or at least those who tread the corridors of power did not seem to think it was, until Malaysia tried to climb the high-income ladder.
Malaysia s palm oil yield to continue declining on labour shortage theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (March 12): Malaysian Palm Oil Board (MPOB) director-general Dr Ahmad Parveez Ghulam Kadir said today the additional RM2 per tonne cess or tax imposed on manufacturers of crude palm oil (CPO) and crude palm kernel oil is in line with the current uptrend in CPO prices at above RM4,000 a tonne. MPOB opines that the implementation of the new cess which was approved in 2019 is timely with the current performance of the oil palm industry, Ahmad Parveez said in a statement today.
He said the price of CPO surged to RM4,022.50 per tonne on Tuesday (March 9, 2021), its highest since March 4, 2018.
Plantation associations appeal to govt on foreign worker, taxation, market access issues theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Short Position - Bursa, energy, plantation tax thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.