GST, HVGT, could resurface as part of Budget 2025 alongside RON95 rationalisation, says RHB analyst. Are we ready?
Home News Auto News 2023 Budget - Key takeaways for the auto sector 2023 Budget - Key takeaways for the auto sector Auto News Adam Aubrey | February 24, 2023 07:00 pm Prime Minister and Finance Minister Anwar Ibrahim has re-tabled the 2023 Budget today at the Dewan Rakyat, and the largest budget on record at RM386.1b has some pretty interesting auto and transport-related points. As we know, there has been a lot of chatter about the local EV industry recently, but surprisingly, nothing was said about the sector during the budget tabling. Instead, a lot of effort has been put into public transport, road improvements, and vehicle licenses. Road improvements The government is also concerned about the high amounts of accidents occurring on local roads which is why they will put aside more than RM2.7 billion to fix and upgrade federal and state roads. RM50 million has also been reserved to upgrade the lighting in accident-prone areas around the country. Absorbing license test costs Putrajaya will absorb the cost of taxi, bus, and e-hailing licence test fees. They will also sponsor tests for those who wish to take the B2 motorcycle license, which is basically tests for the below 250 cc category. This seems like a move to help promote the e-hailing and p-hailing industry as well as public transport. MRT3 cost slashing The government will find ways to slash the costs of the Mass Rapid Transit 3 project, cutting it down by RM5 billion. The Prime Minister said the project was estimated to cost around the RM50 billion mark and his administration aims to get it down to RM45 billion. The savings from the cost-cutting will be redirected to the people. Other key takeaways include: Electrical tariffs are maintained for domestic use (yeah, EVs!) Expansion & enhancements for Penang International Airport & Sultan Abdul Aziz Shah Airport (Subang Airport) DRB Hicom to assist in Technical and vocational education and training (TVET) graduates in the automotive cluster of Pekan, Pahang Road upgrades to boost the tourism industry in Melaka, Johor & more RM64 billion worth of subsidies, assistance & incentives (no detailed breakdown yet) Infrastructure upgrades in Sabah (RM6.5 billion) and Sarawak (RM5.6 billion) Monthly My50 passes from 180,000 users for rails & buses under Prasarana ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags 2023 Budget Anwar Ibrahim 2023 Malaysian auto industry Print Adam Aubrey Content Producer Wants to live the simple life, especially when it comes to cars and bikes. That's what tech is for he reckons, to make motoring simpler Related News Diesel smuggling is real and here is a great example of the syndicate working Auto News Adam Aubrey | February 28, 2023 Myanmar nationals were arrested after being suspected of embezzling 8,000 litres of diesel worth RM124,200.When Prime Minister Dato' Seri Anwar ... 2023 Budget: New EV incentives needed to help industry grow even further, says Proton deputy CEO Auto News Adam Aubrey | February 16, 2023 The 2023 budget, which is set to be tabled next week, needs to come with new incentives to help the growth of Malaysia's electric vehicle Industry, ... Diesel is pricier now but govt still spending about RM7 billion in subsidies Auto News Jim Kem | June 18, 2024 Despite the price of diesel increasing by RM1.20 at the pumps, there’s still plenty subsidisation ongoing as Prime Minister Datuk Seri Anwar Ibrahim ... Anwar: “How much cheaper can we go?” - Expect fuel price hike in Malaysia, subsidy reform soon Auto News Mersita Wasli | October 04, 2023 Malaysia’s fuel prices are too low compared to oil-rich Saudi Arabia’s hence spending more for fuel subsidy is deemed unfeasible, said Prime Minister ... Comments
2023 Budget - Key takeaways for the auto sector Auto News Adam Aubrey | February 24, 2023 07:00 pm Prime Minister and Finance Minister Anwar Ibrahim has re-tabled the 2023 Budget today at the Dewan Rakyat, and the largest budget on record at RM386.1b has some pretty interesting auto and transport-related points. As we know, there has been a lot of chatter about the local EV industry recently, but surprisingly, nothing was said about the sector during the budget tabling. Instead, a lot of effort has been put into public transport, road improvements, and vehicle licenses. Road improvements The government is also concerned about the high amounts of accidents occurring on local roads which is why they will put aside more than RM2.7 billion to fix and upgrade federal and state roads. RM50 million has also been reserved to upgrade the lighting in accident-prone areas around the country. Absorbing license test costs Putrajaya will absorb the cost of taxi, bus, and e-hailing licence test fees. They will also sponsor tests for those who wish to take the B2 motorcycle license, which is basically tests for the below 250 cc category. This seems like a move to help promote the e-hailing and p-hailing industry as well as public transport. MRT3 cost slashing The government will find ways to slash the costs of the Mass Rapid Transit 3 project, cutting it down by RM5 billion. The Prime Minister said the project was estimated to cost around the RM50 billion mark and his administration aims to get it down to RM45 billion. The savings from the cost-cutting will be redirected to the people. Other key takeaways include: Electrical tariffs are maintained for domestic use (yeah, EVs!) Expansion & enhancements for Penang International Airport & Sultan Abdul Aziz Shah Airport (Subang Airport) DRB Hicom to assist in Technical and vocational education and training (TVET) graduates in the automotive cluster of Pekan, Pahang Road upgrades to boost the tourism industry in Melaka, Johor & more RM64 billion worth of subsidies, assistance & incentives (no detailed breakdown yet) Infrastructure upgrades in Sabah (RM6.5 billion) and Sarawak (RM5.6 billion) Monthly My50 passes from 180,000 users for rails & buses under Prasarana ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags 2023 Budget Anwar Ibrahim 2023 Malaysian auto industry
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Diesel smuggling is real and here is a great example of the syndicate working Auto News Adam Aubrey | February 28, 2023 Myanmar nationals were arrested after being suspected of embezzling 8,000 litres of diesel worth RM124,200.When Prime Minister Dato' Seri Anwar ...
2023 Budget: New EV incentives needed to help industry grow even further, says Proton deputy CEO Auto News Adam Aubrey | February 16, 2023 The 2023 budget, which is set to be tabled next week, needs to come with new incentives to help the growth of Malaysia's electric vehicle Industry, ...
Diesel is pricier now but govt still spending about RM7 billion in subsidies Auto News Jim Kem | June 18, 2024 Despite the price of diesel increasing by RM1.20 at the pumps, there’s still plenty subsidisation ongoing as Prime Minister Datuk Seri Anwar Ibrahim ...
Anwar: “How much cheaper can we go?” - Expect fuel price hike in Malaysia, subsidy reform soon Auto News Mersita Wasli | October 04, 2023 Malaysia’s fuel prices are too low compared to oil-rich Saudi Arabia’s hence spending more for fuel subsidy is deemed unfeasible, said Prime Minister ...