MY suggestions on the proposed fuel subsidy is a win-win situation for the rakyat:
- Withdraw all fuel subsidies for vehicles;
- Allow the price of petrol to float and to be determined by global pricing;
- Withdraw all APs for vehicles;
- All future APs for reconditioned and new cars be placed under an auction system similar to Singapore’s so that the Government benefits from the auction revenue; and
- Reduce import and excise duties for vehicles by 50% of the current rate and another 30% in the next three to five years.
DATUK DR DAVY WOO,