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Metro
Friday July 23, 2010
Utilise funds for green initiatives
Story and photo by ALLISON LAI
malacca@thestar.com.my
MALACCA: The government is encouraging the private sector to utilise = funds=20 and incentives provided under its RM1.5bil Green Technology Financial = Funding=20 Scheme to encourage more local companies to acquire green technology in = their=20 operations.
Since setting up the fund in January, the ministry has approved 33 = green=20 technology projects related to water and energy amounting close to = RM1bil,=20 said Green Technology and Water Minister Datuk Seri Peter Chin Fah = Kui.
=93The scheme aims to provide funding for local companies and = factories to=20 acquire green technology and equipment that help enhance energy = efficiency and=20 reduce pollution.
=93Response has been very encouraging,=94 he told reporters after = attending a=20 briefing on LED production at Maruwa (M) Sdn Bhd here recently.
![3D""=20](3D"http://thestar.com.my/archives/2010/7/23/southneast/p6kong.jpg")
=20
Go green: Chin (right) looking at an LED =
electronic panel as=20
Chief Minister Datuk Seri Mohd Ali Rustam (second from right) and Public =
Works=20
and Utilities Committee chairman Datuk Gan Tian Loo look on. =
Chin said the fund was managed by Bank Negara and the interest rate = would=20 depend on the nature of the project and loan amount with the government = giving=20 two per cent of interest subsidy.
=93The government will provide a two per cent subsidy for the = interest rate=20 charged by the bank. For example, if the bank interest is four per cent, = a=20 company will only pay two per cent of it,=94 he said.
He noted the government would consider applications made for the fund = based=20 on the nature of the proposed green projects and ideas.
He cited the Feed-in tariff (FiT) mechanism for renewable energies = that would=20 be implemented next year as one of the incentives for consumers as they = can sell=20 excess electricity to the power utility company at a fixed premium for = specific=20 durations.
Apart from that, Chin added other forms of incentives also include = tax=20 deduction for constructing green buildings and exemption of tax for = importing=20 equipment that helps in developing sustainable energy and reducing=20 pollutions.
Meanwhile, Chin described the state=92s intention of using wind = turbine to meet=20 electricity needs for Pulau Besar as a good suggestion as Tenaga = Nasional Berhad=20 currently does not supply electricity to the island.
=93The suggestion is a very positive move. The ministry will = carefully look=20 into this project and see how we can help the state to carry it out,=94 = he=20 added.
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