The decision to abolish the approved permits (AP) for imported vehicles in 2015 will not change, says Deputy International Trade and Industry Minister Mukhriz Mahathir.
After that period, companies holding APs could enter other business fields according to their respective expertise, he said.
“Maybe after 2015, these companies would be able to negotiate with big brand companies to become their distributors,” he said when winding up the debate on the Supply Bill 2012 at the Dewan Rakyat yesterday.
Mukhriz said his ministry had given many avenues and opportunities for companies with AP to venture into other businesses specifically in the automotive field.
He said the surcharge of RM10,000 charged to AP franchise holders was also an exit plan to ensure that they continue to be involved in the automotive industry after 2015.
“Through the collection of these charges, a Bumiputera Automotive Fund would be set up to channel financial assistance in the form of grants and credit to companies to start off other automotive related businesses,” he said.
However, a similar fund would not be set up for Open AP holders considering that they are automotive companies who get financial assistance and technical support from their principal companies overseas, he said.