According to a report, the Naza Group of Companies says it is hoping that the government will see fit to lower the duty structure for cars by 20% to 30% for the 2012 Budget to give businesses a boost and the public the ability to spend more.

Its joint Group executive chairman Datuk SM Faisal SM Nasimuddin said the people are complaining that the duty structure was too high, adding that a reduction in duties would help create an interest among the people to buy cars, the report by Bernama stated.

“A lot of people have liquid cash but they need the right reason to spend. If we can lower the duty structure, it will help increase the saving power. There’s no point people having so much cash and they don’t want to spend. the economy will not grow,” he told Bernama at the launch yesterday of the Naza Racing Team, which will be competing in the Ferrari 458 Challenge Trofeo Pirelli Round 4 in Sepang this weekend.

In related news, Naza is hoping to bring the series to Malaysia as part of the calendar on the Ferrari Challenge Asia Pacific racing series, which is managed and coordinated by Ferrari, and that the race this weekend was an initiative carried out by the company to steer things this way.

“If they are happy with the exposure and the hospitality we show them, I’m not surprised that next year, we’re going to have five or six Malaysian cars on the Sepang circuit,” SM Faisal said.