Proton too big to fail, says Najib

Reuters pic

KUALA LUMPUR: The government will ensure Proton’s survival with all the necessary tweaks it needs in facing an increasingly competitive market, Prime Minister Najib Razak said.

“Whatever we have to rescue, we will rescue,” he said, adding that the national car manufacturer was too big to fail.

Proton has about 10,000 employees and was reported to have have about 400 vendors and sub-vendors, plus more than 350 sales and service outlets, which employed at least 50,000 staff.

Proton currently has a 13% market share.

“We will make sure Proton survives but we will restructure to make it competitive,” he said at the “Budget 2018 With The Rakyat” programme here today.

Najib, who is also the finance minister, said the government would undo some of the earlier decisions made on tolled roads.

“I will restudy some of the earlier decisions which I think were not made in the best interests of the people of Malaysia.”

He noted the government had reviewed the independent power producers’ (IPP) deals, the unpopular privatisation decisions and certain “sweetheart” deals favouring certain quarters.

The prime minister made a promise that the government would continue to care for the country’s 30 million population. -FMT