Caretaker prime minister Ismail Sabri Yaakob announced that the cabinet has agreed to increase the allocation for contractors involved in the government’s affordable housing projects from RM55,000 per unit to RM68,000 per unit.
This is because contractors are struggling with the rising cost of construction materials and this price increase will help with their profit margin, he said.
“In this situation where construction material prices are uncertain, I want to inform that the cabinet has approved additional allocation to increase the price per house, like the Hardcore Poor Housing Programme (PPRT) under the Rural Development Ministry, the Rakyat Housing Programme (PPR) under the Local Government and Housing Ministry… from RM55,000 to RM68,000.
“This is to ensure the profit margin is there so that contractors involved in the construction of these houses can get some (profit),” Ismail Sabri added.
He said this during the officiation of the Malaysian Malay Contractors Association (PKMM) annual general meeting held at the World Trade Centre Kuala Lumpur today.
[More to follow] - Mkini
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