Private sector must take lead in proposed national car project, says Finance Minister

By CARSIFU | 15 June 2018


PETALING JAYA: The private sector will have to fund the new national car project mooted by Prime Minister Tun Mahathir Mohamad if it goes ahead, says Finance Minister Lim Guan Eng.

Lim said the Government simply did not have the money for the project.

"If there are private parties who want to do it in Malaysia using their own money, I think that is something that would be worthwhile looking at - but not from public funds,” he told Channel NewsAsia in an interview.

Lim said he spoke to the PM on the matter upon his return from Japan and he was fully aware of the situation.

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In the interview with the Singapore TV news channel and news agency, Lim revealed that “a private party had mooted the idea of a car to Mahathir” but that the Government has yet to receive details of the proposal.

The Prime Minister floated the new national car project during his official trip to Japan earlier this week. He justified it by saying it would help boost Malaysia’s engineering capability.

Malaysians reacted with a mixed response, with some saying the focus should be on creating electric cars if the project is pushed through.

Others rejected it as being too costly especially when the country was burdened by an over RM1tril national debt while some urged the Government to focus on improving public transport instead.

Tun Mahathir raised the prospect of a new marque after declaring that his brainchild Proton was no longer a national car when China's Zhejiang Geely Holding Group bought a 49.9% stake in the car maker for RM460.3 million in June last year.

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