Monday, April 8, 2013

Where did the RM7 billion go?

The government announced in February (specifically, quoting the International Trade and Industry Minister, Datuk Seri Mustapa Mohamed) that there will be a 'further reduction in prices' with a gradual phasing out of import duty on CBUs from Japan and Australia over the next 3 years.


I heard that many Japanese makes are already enjoying the 0% import duty as CBUs are mainly from Thailand and Thailand is under the Asean FTA.  CBUs directly from Japan is minimal quantity and not to mention, Australian makes are negligible.  So there you go, a little 'sweet' from the government pre-GE which if you really do the math, is NOT a sweet at all.  Would you buy an Australian make at this point in time?  Wait... can you even see a Holden on the road?  At all?  -_-" And get this, what's really hurting our wallet is the excise duty.

The thing that really caught my attention though was, excise duties contribute about RM7 billion a year to the government's pocket, which is essentially about 4% of total federal government revenue of RM208 billion.

As a concerned citizen, I'm just curious, where and how did we spend this RM7 billion?  Each year?

If I was the Ministry, maybe I'd use the 7 billion to:

1) Trim my ministry head count but to those who stay, they are properly and competitively compensated - not a fat cheque reserved for the upper few
2) Build the industry, building world-class competitive young talents in the automotive business to ensure a sustainability in a thriving industry
3) Encourage open source R&D as a step to making Malaysia a SEA hub for all-things automotive tech
4) Donate to Road Works so that we have better roads
5) Making road safety a compulsory quick subject in school that doesn't need to take an entire year or 12 years as a matter of fact, for students to 'study' -_-

Of course I don't have an inkling of an idea on how to run a ministry.  I just thought some practical measurable visions could work as a binding beacon for everyone to follow.

7 billion.


Oh well.

No comments:

Post a Comment