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
newsdesk@thesundaily.com
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?
We have already paid income taxes, service tax stamp duties, assessments and custom duties. When companies pay taxes, they collect from tax payers via their selling price so how come we tax and EPF contributors have to pay again?
Public Housing programmes should be financed from various taxes collected. It has been like this for so long, why the sudden need to get extra money from EPF?
Public Housing programmes should be financed from various taxes collected. It has been like this for so long, why the sudden need to get extra money from EPF?
Port Klang Free Trade Zone scandal was reported to cost tax payers RM12.5billion and that foul up could pay for more than 8 rounds of this seemingly inflated project.
If the Barisan Nasional administration exercise commonsense and discipline with our money, the above mentioned expenditure would be nicely taken care of by taxes collected.
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