People Housing Programme: simple math don’t look right
Why do the entire nations’ contributors have to fork out for people in Kuala Lumpur only? Why do retirement fund of a Negeri Sembilan, Sarawak and Kelantan contributor have to do with the housing woe of a person in Kuala Lumpur?
By Lee Wee Tak
As an EPF contributor and tax payer, I am most perplexed and worried by this latest pre- general election allocation of our statutory life savings.
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EPF loan guaranteed: FT Foundation
Last updated on 31 January 2012 – 12:18pm
Pauline Wong
KUALA LUMPUR (Jan 31, 2012): The RM1.5 billion loan from the Employees Provident Fund (EPF) to be used for a special funding scheme for public housing is in safe hands, the Federal Territories Foundation said yesterday.
Foundation executive director Datuk Mohd Idris Mohd Isa said the money will be guaranteed by the foundation for repayment within 25 years.
The money is to be channelled for an “easy financing scheme” for the sale of houses in National Economic Action Council’s People Housing Programme (PPR) and KL City Hall (DBKL) public housing.
Raja Nong Chik had yesterday told theSun that the funds will be given to the foundation to help some 20,000 eligible tenants and interested buyers living in the urban PPR and KL City Hall public housing units.
A typical unit in a public housing programme in Kuala Lumpur costs below RM35,000.
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Take a look at the numbers below. It seems that the abovementioned allocation is meant for more than 20,000 households. If typically a public house only cost RM35,000 then the fund can cater for more than double the 20,000 number of household announced by the minister.
The minister should clarify himself because the numbers do not look right. Unless, of course another minister got misquoted yet again.
Numbers aside, why do the entire nations’ contributors have to fork out for people in Kuala Lumpur only? Why do retirement fund of a Negeri Sembilan, Sarawak and Kelantan contributor have to do with the housing woe of a person in Kuala Lumpur?
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