Third national car project will not use the people's money, says Guan Eng

Updated 5 years ago · Published on 13 Aug 2018 11:06PM · 2 Comments

THE government today gave assurance that the third national car project would neither be funded by public money nor money from the government.

Instead, Finance Minister Lim Guan Eng said the project, if ever implemented, would be funded by private investors.

“If it comes from private (investors), then there will not be a problem,” he said when winding up the debate on the Supply (Reallocation of Appropriated Expenditure) Bill 2018 at the Dewan Rakyat sitting in Kuala Lumpur, today.

Prime Minister Dr Mahathir Mohamad in his speech at the 24th International Conference on the Future of Asia, or Nikkei Conference, in June in  Tokyo, expressed ambition to start a new national car project as Proton, which he founded in 1983, was no longer a national brand.

The Supply (Reallocation of Appropriated Expenditure) Bill 2018 was tabled after the ministries  restructured following the May 9 general election. 

The bill seeks to apply a sum from the consolidated fund for expenditure for the service of part of the year 2018 and to appropriate that sum for certain purposes for that part of the year.

Under the bill, the Economic Affairs Ministry will receive the highest allocation of RM1.3 billion.

The sitting continues tomorrow. – Bernama, August 13, 2018.

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Comments

  • If is going to be 100% funded by private investment then please dont use the words national car. In any case, I dont why we need a national car when we could easily attract other car manufacturers to set up base in the country.

    Posted 5 years ago by Rupert Lum · Reply

  • Well, thats fine and dandy. But I wonder if there is any trade off to this potential investor. I mean, if u r asking someone to invest gazillions, you dont think theyd ask for some protection, by way of import duties etc? Anyway, remains to be seen

    Posted 5 years ago by Rock Hensem · Reply