KUALA LUMPUR, Feb 3 2016 : Felda Global Ventures Holdings Bhd (FGV) hopes the government will reconsider its decision to increase the levy for foreign workers in the plantation sector.
FGV group president/chief executive officer Datuk Mohd Emir Mavani Abdullah said the sudden move would push up FGV’s cost drastically as the palm oil industry was sluggish due to unfavourable prices and a strengthening US dollar against the ringgit.
“The new levy imposed for foreign workers in the plantation sector is a significant jump of 154 per cent from RM590 to RM1,500, an increase of RM910,” he said in a statement.
Crude palm oil prices dipped to a six-year low in August 2015.
Prime Minister Datuk Seri Najib Tun Razak announced in the recalibrated 2016 Budget that minimum wages will increase to RM1,000 per month for Peninsular Malaysia and RM920 per month for Sabah and Sarawak, beginning July 1, 2016. – Bernama