'If NFC can get soft loan, why not house buyers?'

Rather than utilise RM1.5 billion from the Employees Provident Fund (EPF) for low-cost housing loans, the federal government should explore such options as the soft loan enjoyed by National Feedlot Corporation (NFC), said Lembah MP Nurul Izzah Anwar.

She was commenting on Federal Territories and Urban Wellbeing Minister Raja Nong Chik’s (right)denial that the Treasury had run out of money, hence having to resort to getting funds from the EPF.

“Nong Chik’s denial that ... the federal government has run out of money, opens up the possibility of alternative funding options for home buyers,” she said in a statement today.

She offered two alternatives in helping the poor to buy houses.

If NFC could be given RM250 million in a soft loan at 2 percent interest, she said, the needy could be afforded the same terms.

“The minister should respond as to why the same loan consideration wasn’t extended to the rakyat,” she said, noting that KL City Hall has indicated that the interest could be 6.5 percent.

Nurul Izzah also suggested a‘rent-to-own and zero interest’ scheme.

“For example, a RM35,000 unit for 20 years would only require a RM145 monthly repayment not including building maintenance fees.

“This approach would fulfill a people-centric economic goal since the units offered have already been built and currently occupied with the construction costs already accounted for.”

She called it a “win-win” concept that could ride on the existing administrative systems.

The MP challenged Nong Chik to call for a referendum to allow people to choose which option they feel is best for them.

Nurul Izzah also said she accepted the minister’s challenge to an open debate, but said it should be telecast ‘live’, similar to that mooted between Penang Chief Minister Lim Guan Eng and MCA president Dr Chua Soi Lek.

“This indeed would be democracy in practice, predicated upon the right to information for the rakyat. After all, Malaysians want to know for certain that our Treasury is really not empty,” she added.