KUALA LUMPUR: Pakatan Rakyat's pledge to revamp the National Automotive Policy (NAP), including slashing the excise duty and reducing the triple-tax burden, is economically unsustainable, said Umno Youth chief Khairy Jamaluddin.
“The idea of having cheaper cars in Malaysia is good, but it will cost the country billions of ringgit in revenue,” he said after a buka puasa event with the media at the Barisan Nasional Youth volunteer headquarters here yesterday.
Khairy was commenting on the Opposition's pledge to revamp the NAP and slash the prices of cars.
Khairy challenged Pakatan to provide detailed plans on how it would finance all its promises.
“They are only piling one promise after another but have failed to show how they would pay for them,” he added.
PKR strategic director Rafizi Ramli, communications director Nik Nazmi Nik Ahmad and deputy information chief Sim Tze Tzin, in a joint statement issued yesterday, said Malaysian car prices were exorbitant due to the steep excise, import duties and taxes.
It said a slash in car prices would boost the disposable income of car owners earning less than RM3,000 a month and reduce their loan rates and household debts.