ALOR SETAR: The International Trade and Industry Ministry is proposing a RM5,000 incentive for car owners to discard their old vehicles. The proposal involves cars that have been on the road 15 years or more. Minister Tan Sri Muhyiddin Yassin said only Proton had taken the initiative to introduce the incentive.
“We believe that by introducing such an incentive, we can help the automotive industry maintain their businesses and at the same time reduce the number of old vehicles in the country,” he told reporters after the introduction of more than 20 candidates for the Umno elections to Kedah delegates yesterday.
Muhyiddin said there were about one million vehicles that were more than 15 years old on Malaysian roads.
He said the ministry proposed the package because it did not want local workers to feel the heat from the global economic downturn, especially retrenchment.
“The proposal is part of an economic development package worth more than RM5bil to help improve the country’s economic condition,” said Muhyiddin.
He said the package would include grants and soft loans to help industries, especially small-and medium-scale industries.
He added that he had met Deputy Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, to submit the proposal.
If approved, the package would be included in the mini-budget to be announced by Najib.
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