Connect with us

Nation

Budget 2023: Govt needs to focus on issues of high interest rates, unsold houses

Published

on


KUALA LUMPUR: The government is urged to prioritize solving the problem of high interest rates on home loans, as well as the problem of unsold houses in Budget 2023 to be presented on October 7.

Professor at the Faculty of Human Ecology at Universiti Putra Malaysia, Prof. Dr. Ahmad Hariza Hashim, said that at the moment, the interest rate charged to borrowers, especially the B40 group, is considered very high. , even the sale of houses like the Popular Housing Program (PPR) is still expensive and out of reach for the group.

“That is why it is necessary to introduce financial aid or a reduction in interest rates on loans, if not free, for this group, so that it is easier for them to have their own home,” the professor of science studies told Bernama. living place.

On the issue of surplus, he suggested that the government expand the rent-to-own (RTO) financing scheme for unsold housing units in next year’s budget through financial assistance or loans with lower interest rates for people interested in buying the unsold units.

“It is true that there are many unsold homes as reported last July. As many as 35,592 units of homes, including over 10,000 units of PR1MA homes that have not been sold.

“Therefore, the RTO concept should be extended to unsold houses because they are already on the market and it can help reduce the financial burden on developers,” he said, adding that the government should also give special incentives to developers. who practice RTO. scheme.

Meanwhile, lawyer Datuk Nazri Mustafa of Messrs Nazri Azmi Islinda suggests that the government, especially the Ministry of Housing and Local Government (KPKT), control the price of houses and building materials.

He said that KPKT also needs to do its own assessment of a housing project making sure that the developer’s selling price of the house is set according to the real market before giving its approval to the otherwise inflating developer. the price of the property and then offer a refund to attract buyers.

“This is because there is a developer discount given to the buyer to ensure that the financing amount is greater than the actual selling price of the home.

“However, this situation makes the monthly installments higher than the original price, which even leads to the newly completed units being published in the auction (since the buyer does not meet the higher monthly payment),” said.

In addition, Nazri said that KPKT needs to limit the approval of housing projects to reduce “oversupply”, thus reducing the surplus of unsold housing units in the country.

Max Capital Management Holdings Ltd Group CEO Max Shangkar said the government could allocate the budget in the housing program by focusing on providing houses for people who do not own and still rent.

“This can be achieved by working together with landlords or developers to build more quality affordable houses in suitable locations, and even with the existing budget, the government can make it easier for citizens to buy or rent houses.

“For example, the government can implement a program to help the B40 group to buy their first house without a down payment. Financial assistance can also be extended to those in need (B40) to buy or rent a house,” he said.

He also urged the government, especially the Ministry of Housing and Local Government, to take advantage of existing initiatives to improve the quality of housing in the country through the 2023 Budget. – Bernama


Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Nation

Azalina vows to address, amend outdated laws to be relevant with current times

Published

on



KUALA LUMPUR: As the new Minister for Law and Institutional Reform, Datuk Seri Azalina Othman Said promises to address laws that are outdated and make necessary changes to make them relevant to current times.

In a statement on Saturday (December 3), Azalina said, among other things, that the reform includes the separation of powers of the Public Ministry and the Public Ministry, to preserve the independence of the discretion of the Public Ministry.

“I will also ensure that outstanding issues, including the citizenship status of children born abroad to Malaysian mothers, make continued progress and, where necessary, reform laws to restore the rights of the vulnerable, marginalized and those who don’t get the same treatment in our nation,” he said.

Meanwhile, in the same statement, Azalina said that there are many challenges ahead for the Unity Government as it navigates the next term, taking into account the impact of the Covid-19 pandemic and the economic downturn expected in the coming year. .

“The portfolio that I am leading involves efforts that span the length of government. I look forward to working together with elected representatives from various parties to address the challenges,” he added.

With vast experience as a Cabinet member and having headed various ministries since 2004, Azalina once made history when she became the first woman to be appointed Minister of Youth and Sports in 2004 and the first woman to be appointed Vice President of The House of Representatives. Representatives in 2020.

Azalina was also Minister of Tourism from 2008 to 2009 and Minister in the Department of the Prime Minister (Legal Affairs) from 2015 to 2018. – Bernama


Continue Reading

Nation

Bung says Sabah sidelined in Cabinet line-up

Published

on



KOTA KINABALU: Datuk Seri Bung Moktar Radin (Photo) says he feels Sabah is underrepresented in Prime Minister Datuk Seri Anwar Ibrahim’s federal cabinet.

Sabah’s deputy chief minister said the two ministerial posts the state received through Pakatan Harapan’s Upko and Gabungan Rakyat Sabah (GRS) party did not reflect the support given to the unity government by Sabah MPs.

“It seems that Sabah has been left out of the Cabinet formation in the new unity government.

“There is not even one Sabah Barisan representative in the cabinet compared to Sarawak, which has five,” he said in a statement here on Saturday (Dec 3), adding that this was not fair to Sabah.

Sabah chief Barisan Nasional said he respected the Prime Minister’s decision, but said Sabah needed to be reflected equally in the Cabinet to show that the Federal Government meant business in ensuring that Sabah’s rights and development were in the agenda of the new Federal Government. .

“I’m worried. Does this mean that Sabah will also be left out of the development?” questioned Bung Moktar, who led Sabah Barisan to a seven-seat victory in the just-concluded GE15, the most among parties they contested in the state.

Anwar had announced on Friday (Dec 2) evening that incoming Upko Chairman Datuk Ewon Benedick and GRS Papar MP Datuk Armizan Ali have been appointed to their cabinet as Minister for Business Development and Cooperatives, as well as Minister in the Prime Minister’s Department (Sabah and Sarawak). Affairs) respectively.

Of the seats in Sabah, GRS won six, Pakatan (five), Warisan (three), Independents (two), and one seat for Parti Kesejahteraan Demokratik Masyarakat and Perikatan Nasional.

Bung Moktar congratulated the two new Sabahan ministers, but stressed that it was important that Sabah receive portfolios that would benefit the state.

“The people chosen for the job must be well-versed in the issues of Sabah’s rights and the needs of the state.

“Sabah needs a strong voice in Cabinet to make sure that development funds for our schools, roads and electricity, among others, are dealt with quickly without further delay,” he said.

Bung Moktar said he hoped all the new ministers would prioritize Sabah affairs so that the state does not remain in the background.

“We don’t want Sabah to be left out again in terms of development, especially infrastructure, which is vital for the people.

“For example, the Pan Borneo highway project must continue and be accelerated. We do not want the project to be discontinued again as it happened when Pakatan became the government in 2018,” he said.


Continue Reading

Nation

More than 30 locations nationwide at risk of landslides

Published

on


PETALING JAYA: More than 30 locations across the country have been identified as landslide hotspots and with the current continued rain, the potential for landslides is even greater.

Malaysia’s Department of Minerals and Geosciences said continuous rainfall during the northeast monsoon, which is expected to last until March next year, is the main reason why areas with slopes greater than 25° are at risk of erosion. .

“This current monsoon phenomenon may result in the potential for landslides being higher, especially in settlement areas with slopes greater than 25°, hillside roads and river basin areas in some ecological parks,” it said in a statement.

CLICK TO ENLARGE

The department added that the hotspots are in Pahang (Cameron Highlands, Fraser’s Hill), Selangor (Bukit Antarabangsa-Hulu Langat, Kuala Kubu Bharu), Kedah (Gunung Jerai, Baling), Penang (Tanjung Bungah, Paya Terubong), Negri Sembilan ( Genting Peras, Jalan Seremban-Simpang Pertang), Perak (Ipoh, Kledang), Terengganu (Aring-Kuala Berang-Kenyir), Kelantan (Lojing – Gua Musang), Johor (Gunung Pulai), Sarawak (Miri, Kapit, Bau) and Sabah (Kota Kinabalu, Kundasang, Sandakan), among others.

The areas are under constant monitoring by the department and relevant agencies, he said.

The Ministry of Energy and Natural Resources and its agencies, which include the department, have also been evaluating, monitoring and implementing landslide risk reduction programs throughout the country.

“A total of 25 ecological parks, which are tourist attractions, have been identified as potentially threatening with the occurrence of mapped debris flows.

“These areas have been installed with an early warning system, while community-based disaster risk management has been established involving local residents and district-level agencies,” the department said.

Staff from the Malaysia Institute of Public Works help rehabilitate landslides at Taman Mega Jaya in Ampang, including shoring up areas with concrete.  — IZZRAFIQ ALIAS/The StarStaff from the Malaysia Institute of Public Works help rehabilitate landslides at Taman Mega Jaya in Ampang, including shoring up areas with concrete. — IZZRAFIQ ALIAS/The Star

Under the program, local residents receive training to improve their level of preparedness against landslides.

The department said it is also working with local authorities to map the hazards and risks of the slopes.

“The department is committed to providing early information related to geological landslide disasters, including working hand in hand with other technical agencies under the National Disaster Management Agency to develop a network of early warning systems, including the public awareness to reduce the risk of loss of life and property damage,” he added.

Last month, the Meteorological Department said that the northeast monsoon phase will persist until March next year.


Continue Reading

Trending