The National Biofuel Policy of Malaysia, 2006
The National Biofuel Policy envisions use of environmentally friendly, sustainable and viable sources of energy to reduce the dependency on depleting fossil fuels, enhanced prosperity and well-being of all the stakeholders in the agriculture and commodity-based industries through stable and remunerative prices.
The policy is primarily aimed at reducing the country’s dependence on fossil fuels, promoting the demand for palm oil as well as stabilizing its prices at a remunerative level. It has five underpinning strategic thrusts:
- Biofuel for transport
- Biofuel for industry
- Biofuel technologies
- Biofuel for export
- Biofuel for cleaner environment
The Policy foresees that Malaysia will be able to reduce its petroleum imports and save foreign exchange through the implementation of the biofuel policy.