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PKR today unveiled the second part of its proposed automotive policy by presenting a three-year phase-out of the “inequitable” approved permits (AP) system to import cars by 2015.
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In the three years, PKR proposes that APs be sold through a three-tier open bidding system, with the opening bids for energy-efficient cars starting at RM10,000, ordinary cars at RM20,000 and RM30,000 for high-powered cars.
“We believe that the average price for each AP can reach RM40,000 each year. At an estimated 70,000 APs per year, this will generate revenue of RM2.8 billion a year,” he said.
[More to follow]
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