Monday, February 13, 2012

MP Nurul Izzah Anwar proposal

'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.

1M for All He ....nurul proposal is brilliant with the rayaat welfare in mind . The government should give soft loan @ 2 % interest per annum for all low cost housing purchase to the lower income rayaat. Using EPF funding at 6.5% interest for low cost housing is not much different than using commercial bank fund. Does the federal treasury has the money to provide the proposed financing?

L Joy Let us get this very clear. The reason EPF name is dragged in was because it was Nong Chik and Najib's wish to have EPF provide lOans but when the loud public opinion was raised against it , they changed their story to that Govt will guarantee the loan 2.67 times. Now , why would the govt do that , if they can n the first place take the loan from EPF and then issue loans to house applicants in KL, or for that matter anywhere else. Why not? So much simpler isn't it? The reason is that najib doesn't want the loan reflected under govt because the govt loans have hit ceiling levels, and with the new Govt salary scale impact, more loans are envisaged , which will bring Malaysia to Greece status , meaning Rating Agencies can easily downgrade Malaysia Sovereign ratings two notch as they did for Greece, and that will bring rM value down as much as 50% against most trading currencies. That effect will have Petronas earnings, drive up debt ratios , in USD notes, force widespread poverty Greece

Swkdayaks With currently RM440 billion debt, where else can Najib and the BN looks for money? Najib has been throwing money everywhere to buy votes so how is he going to recover these money from? Najib just spent and spent without thinking that we have to recover all these money from somewhere! In the end, EPF money is now targetted. uuh what a shame!

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