House Funding Scheme Not Detrimental To EPF Contributors – Najib

By Friday February 3rd, 2012 No Comments

MARANG, Feb 3 (Bernama) — The government today allayed fears that the use of RM1.5 billion from the Employees Provident Fund (EPF) to finance the special funding scheme to enable eligible people buy housing units in Kuala Lumpur is detrimental to EPF contributors.

Prime Minister Datuk Seri Najib Tun Razak said the amount of financing for the scheme is not big compared to the funds with EPF.

“The scheme does not undermine the interests of EPF because the value of the housing units in the market is far higher than the purchase price.

“If a buyer is unable to or does not repay the loan, the unit can be sold for a higher price. We always safeguard the interests of EPF,” he told reporters here.

The prime minister and his wife, Datin Seri Rosmah Mansor, are on a day-long visit to Terengganu.

Earlier, Najib presented the 1Malaysia People’s Aid (BR1M) to people in the Rhu Rendang state constituency, here. Also present were Terengganu Menteri Besar Datuk Seri Ahmad Said and Youth and Sports Minister Datuk Seri Ahmad Shabery Cheek.

The prime minister said the special funding scheme was established to help people interested in owning homes in the federal capital, especially those who are ineligible to obtain loans from financial institutions.

“It is a people-friendly scheme, targeted primarily at those in the low-income group,” he said.

Najib said the government always safeguarded the interests of EPF contributors.

Source : Bernama

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