Ministry To Relook CPO Export Duty Structure, Says Minister

KARACHI, Jan 15 (Bernama) — The Plantation Industries and Commodities Ministry will relook the export duty structure for crude palm oil, which currently stood at five per cent, to boost demand.

Its Minister, Datuk Douglas Uggah Embas, said the change in export duty structure has always been brought to the attention of the government.

“At one time during the cabinet meeting, Prime Minister Datuk Seri Najib Tun Razak directed me to relook the issue,” he said in a speech during a visit to Mapak Qasim Bulkers Pvt Ltd Wednesday.

Mapak Qasim Bulkers, set up in 1995, is a joint-venture company between Felda and Westbury Group of Pakistan. It has tank terminals to stock edible oil at Port Qasim near here.

“The objective of our visit is to increase our palm oil market share in Pakistan, which lately has been on a decline.

“Our policy is always to make sure that palm oil trade will be seamlessly run and benefit everybody, including planters in Malaysia, exporters in Pakistan and the Pakistanis,” he said.

The minister, who is leading a palm oil trade mission to Pakistan and Iran from today until Jan 21, said there was a big potential for Malaysian palm oil in Pakistan which has a population of over 200 million.

Malaysia would continue to improve trade relations between two countries by communicate effectively with relevant Pakistan government agencies and ministries, he said.

The minister said although there were always issues, such as trade imbalance, the matter could be solved if both countries were willing to sit down and find ways to settle them.

“Our population is only as big as Karachi and therefore our purchasing capacity is limited. But, I guessed beyond Malaysia, you can make Kuala Lumpur a launching pad to other markets like Indonesia and Vietnam.

“I am optimistic that relationship between Malaysia and Pakistan at all angles, including business, will continue to improve and bring benefits to both countries so that the people will continue to prosper,” he said.

 

Source : BERNAMA

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