Najib announces RM10 million trust fund for Felcra settlers

Prime Minister Datuk Seri Najib Razak yesterday announced a trust fund with an initial capital injection of RM10 million to help Felcra settlers raise their living standard and income.

He said the Felcra Settlers Trust Fund would be handled by Felcra and would receive an annual injection of RM5 million.

"The stronger the financials, the bigger will be the revenue generation," he said at the launch of construction of Menara Felcra here.

Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal, Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor and Felcra chairman Datuk Bung Moktar Radin were also present at the event.

Menara Felcra, to be constructed at Jalan Sultan Yahya Petra (formerly Jalan Semarak), will comprise a 35-storey office tower, a 43-storey service apartments and a commercial centre encompassing a shopping mall, auditorium and a banquet hall.

In his speech at the event, Najib said to ensure equitable economic growth there should be a linkage among the rural areas, urban centres and the global market to boost national economic achievement.

"If we get to boost our economic value, the revenue will return to the people in the urban and rural areas," he said.

As such, he said, he was impressed with the construction of Menara Felcra because it could not only boost Felcra's income but also allow the revenue to be shared with the settlers.

He also said Felcra had been given due attention in the 11th Malaysia Plan and that a large allocation had been provided through it for rural development.

This went to show that Felcra played an important role in national development though, at times, the size of the land developed by it was small compared to that worked by Felda, Najib added.