KUALA LUMPUR: The Government will set up a RM10mil trust fund to raise the living standard and income of settlers in Federal Land Consolidation and Rehabilitation Authority schemes, Prime Minister Datuk Seri Najib Tun Razak said here.
He said the Felcra Settlers Trust Fund would be handled by the authority and receive an annual injection of RM5mil.
â€œThe stronger the financials, the bigger will be the revenue generation and the members will definitely get more profit,â€ he said at the launch of the construction of Menara Felcra yesterday.
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.
Menara Felcra, to be constructed at Jalan Sultan Yahya Petra (formerly Jalan Semarak), will comprise a 35-storey office tower, a 43-storey service apartment and a commercial centre encompassing a shopping mall, auditorium and a banquet hall. It is expected to be completed by 2017.
Najib said it was important for the Government to pave a link between the rural and urban economy, which would benefit the country as a whole.
â€œWe have successfully reduced the countryâ€™s poverty rate from 49.3% in the 1970s to just 0.6% last year.
â€œWith the building of Felcra Tower, we hope to create a link between the rural and the urban. And with the emergence of a new market and the value added to the project, we will return the benefit to the rural areas. That is what I hope to achieve,â€ he said.
Najib also promised to continue his fatherâ€™s legacy by empowering and bringing change, especially to those living in the rural areas.
In 1966, Najibâ€™s father, Tun Abdul Razak, who was the countryâ€™s second Prime Minister, launched Felcra in order to assist and improve the economy of small-scale farmers to participate in economic activities in the rural areas.