Limited federal funds force ceiling for longhouse loans to be lowered to RM20,000

Cash. — DayakDaily.com file pic.// Photo: Pixabay

KUCHING, Nov 11: The Local Government and Housing Ministry had to reduce the maximum limit for longhouse loans from RM30,000 to RM20,000 for each applicant due to limited allocations from the federal government.

Revealing this, its minister Datuk Seri Dr Sim Kui Hian said the ministry only received an allocation of RM10 million this year.

“My ministry has decided to reduce (the limit by) RM10,000 for each loan so we can increase the number of beneficiaries for this programme,” he said in his winding up speech at the State Legislative Assembly sitting today.

On the issue of alternative financing to cater for B40 and M40 groups who wish to construct their house on their own land, Sim explained that Housing Development Corporation (HDC) will have to study the feasibility of this alternative financing as suggested. — DayakDaily