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Budget 2023 to be retabled by PM10 Anwar Ibrahim on Feb 24 – more EV incentives, targeted fuel subsidy?

Budget 2023 to be retabled by PM10 Anwar Ibrahim on Feb 24 – more EV incentives, targeted fuel subsidy?

Budget 2023 to be retabled by PM10 Anwar Ibrahim on Feb 24 – more EV incentives, targeted fuel subsidy?

The 10th prime minister of Malaysia, Datuk Seri Anwar Ibrahim will be tabling a revised Budget 2023 this Friday, February 24, during which a number of auto-related provisions are expected.

More EV incentives could be in store from the retabled Budget 2023 as natural resources, environment and climate change minister Nik Nazmi Nik Ahmad has said that the government intends to offer them, according to a Bernama report last month.

The original tabling of Budget 2023 in October 2022 brought the announcement that fully imported (CBU) electric vehicles would be exempt from import and excise duties until December 31, 2024, which was an extension of the previous end date for the exemptions put in place with the announcement of Budget 2022.

Also expected for inclusion are targeted fuel subsidies, which has been brought up by the government in the past on several occasions.

In the week after the 10th prime minster was named, government ministries had been given two weeks to discuss the effects of targeted subsidies, the prime minister said at the time.

Prime minister Anwar, who is also finance minister, said that the retabled Budget 2023 will take into account the current economic challenges while attracting investments and driving the country’s growth, Bernama reported earlier this month.

The post Budget 2023 to be retabled by PM10 Anwar Ibrahim on Feb 24 – more EV incentives, targeted fuel subsidy? appeared first on Paul Tan's Automotive News.

* This article was originally published here
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