Friday, October 15, 2010

Highlights of PM's Budget 2011 speech (Green Technology Related)

source: The star

 The Govt is committed to develop green technology to ensure sustainable development

  •  Pioneer Status, Investment Tax Allowance for energy generation from renewable sources plus energy efficiency activities extended til 31 December 2015

  • Import duty and sales tax exemption on equipment for the generation of energy from renewable sources and energy efficiency to be extended until Dec 31, 2012.

  • Import duty and excise duty exemption duty to franchise holders of hybrid cars will be extended until Dec 31, 2011 with excise duty to be given full exemption. This incentive is also extended to electric cars as well as hybrid and electric motorcycles.

  • The Govt will implement the Programme on Blending of Biofuels with Petroleum Diesel (B5 Programme) in June 2011

  • Government will implement the Feed in Tariff (FiT) mechanism under the Renewable Energy (RE) Act to allow electricity generated from RE by individuals and independent providers to be sold to electricity utility companies.

  • For Sarawak Corridor of Renewable Energy, RM93mil is allocated for facilities
  • PPP project: Construction of a 300-megawatt Combined-Cycle Gas Power Plant in Kimanis, Sabah

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