The Diwan of Rakyat issued two bills related to the army and agriculture
The Diwan of Rakyat issued two bills related to the army and agriculture

The Diwan of Rakyat issued two bills related to the army and agriculture

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Kuala Lumpur: A day after the nation celebrated Heroes’ Day, the Diwan Rakyat today approved the Armed Forces Fund (Amendment) Act 2022.

The bill contains 12 clauses, among other things, intended to amend the Armed Forces Fund Act 1973 (Act 101) to expand the investment of the Board of Directors of the Armed Forces Fund (LTAT) and to enable the Board of Directors to incorporate companies in addition to existing companies. Powers of incorporation of companies.

The bill submitted by the Deputy Defense Minister, Datuk Seri Ikmal Hisham Abdel Aziz, was approved after discussion by 15 members of Parliament.

In concluding the debate on the bill, Akmal Hisham said that the main focus of amending Law 101 is to ensure that the military’s contribution to the LTAT is guaranteed, safe and preserved.

“Military personnel sacrifice their lives and energy in order to ensure the safety and security of our country. At the same time, they are also like other civilians who want to ensure that when they retire, they have savings that can guarantee their lives in the future.

“With the amendment of this Act, military personnel will be more motivated in carrying out their responsibilities knowing that their future contributions are safe and guaranteed under LTAT.

“That is because their contributions are managed by the efficient, prudent and trustworthy management of LTAT,” he said.

Earlier in the discussion session on the bill, the leader of the opposition, Datuk Seri Anwar Ibrahim, touched on the issue of weak management of LTAT that must be addressed and rectified to ensure the welfare of shareholders.

“If LTAT and its company are governed by transparency and the right principles of governance, then the capacity of LTAT will be greater because it will not depend solely on contributions,” he said.

Meanwhile, Dewan Rakyat today also approved the Federal Agricultural Marketing Authority (Amendment) Act 2022 which aims, among other things, to enable the Federal Agricultural Marketing Authority (FAMA) to stabilize the supply chain of livestock commodities that have a direct impact on the head Money. and market capabilities, especially small and medium producers.

Introducing the bill, Deputy Minister of Agriculture and Food Industry Datuk Seri Ahmed Hamza said that with the extension of the powers of the FAMA, the ministry aims to advance the development of the livestock sector to ensure food security for the country.

“Indirectly, it increases the contribution of the agri-food sector to the country’s GDP by empowering small-scale and semi-commercial farmers,” he said. – program

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