PUTRAJAYA, Jan 16 (Bernama) -- The Cabinet today asked the Agriculture and Agro-based Industry Ministry to do a comprehensive study on an incentive mechanism for farmers to help them reduce production costs.
Agriculture and Agro-based Industry Minister Tan Sri Muhyiddin Yassin said this followed his informing the Cabinet that agricultural production in the country needed to be raised.
"This is because the Prime Minister himself wants agriculture output raised. We (ministry) have tabled the programme needed including introducing an incentive system," he told reporters at the pre-launch of Mardi's Biobusiness Showcase 2008 here today.
The incentive system, he said would replace the subsidy system practised presently and was meant to help farmers control costs.
On financial aid for farmers who suffered losses as a result of last month's floods in the country, Muhyiddin said the National Disaster Relief Management Committee had agreed for it to be channeled through Bank Pertanian branches in the affected states.
"We urge the National Security Division to release the RM25 million approved quickly so that the money can be distributed to affected farmers and livestock breeders," he said, adding that the formula would be the same as was done after the Dec 2006 floods.
"This is not compensation but aid to help reduce their burdens. Godwilling, by this month or next they will be able to get the money," he said.
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