Ong: Lots of benefits for property sector
 
 
BUDGET 2008 is comprehensive and caring, Housing and Local Government Minister Datuk Seri Ong Ka Ting said.
 
Ong, who is MCA president, said the Budget would stimulate the property sector. It also took into consideration the needs of ordinary folks, especially those in the lower-income group.
 
“For example, EPF contributors can make monthly deductions from their EPF account to buy a house and for those who do not have a fixed income, the Government has allocated a fund to provide guarantees to the banks,” he said.
 
He welcomed the 50% exemption on stamp duty for those buying a house not exceeding RM250,000, saying that it would help to ease the financial burden of buyers and boost the property sector.
 
 
Source :The Star 08/09/2007 Close Window