Government official says import duties should be reduced gradually.
The Malaysian government says it will not reduce the excise duty on imported cars as a way to lower vehicle prices. Deputy International Trades and Industry Minister Hamim Samuri tells Parliament the elimination of import duties does not guarantee a reduction in the price of a car. “Car prices are determined by several factors, including manufacturing companies and vehicle assemblers, foreign exchange rate, transportation cost, insurance and loan interest rates,” he ...
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