Kota Kinabalu: The Development of the Grain Corn Industry and Price Stabilisation Initiatives from both the Sabah and Sarawak governments were among key points discussed by Price Stabilisation Committee (JPH) for Sabah, Sarawak and Labuan, here, Tuesday.
A major outcome of the meeting was the agreement to implement an integrated grain corn development initiative in Sabah and Sarawak.
“This initiative is crucial for reducing our dependence on imported food sources for the livestock industry,” said Domestic Trade and Cost of Living Minister, Datuk Armizan Mohd Ali, in a statement.
He said that high production costs in this sector have been a significant factor in driving up market prices.
“The initiative will involve the Sabah and Sarawak state governments collaboratively through the National Grain Corn Industry Committee (NGCIC), to be chaired by the Minister of Agriculture and Food Security,” he said.
The JPH for Sabah, Sarawak and Labuan held its second meeting on Tuesday marking a significant step in addressing economic challenges faced by these regions.
The meeting, chaired by Deputy Prime Minister cum Minister of Energy Transition and Water Transformation, Datuk Seri Fadillah Yusof, focused on crucial initiatives aimed at stabilising prices and boosting local industries.
Established in December 2023 by the Prime Minister, the JPH serves as a platform to examine issues, challenges and conduct studies regarding the pricing of goods and services in Sabah and Sarawak.
The committee’s role extends to providing strategic proposals and mechanisms for price stabilisation across these regions, including Labuan.
The committee also reviewed preliminary findings from ongoing Price Stabilisation Studies in Sabah, Sarawak, and Labuan.
“These studies, which commenced in May 2024, are expected to conclude in November 2024, with a full report scheduled for presentation at the next JPH meeting in December.
“The full report of this study will be presented at the upcoming JPH Meeting for Sabah, Sarawak, and Labuan scheduled for December 2024.
“The results and findings from this study will serve as a basis for consideration in improving existing initiatives and proposing new initiatives in the future related to price stabilization in Sabah, Sarawak, and Labuan,” he said.
