MORE CIVIL SERVANTS MAY BE ELIGIBILE FOR HOUSING LOANS

KUALA LUMPUR: Civil servants can expect increased allocations and higher eligibility limits in housing loans next year.

Sunway University Business School economics professor Dr Yeah Kim Leng said despite the global and regional economic uncertainties, the civil service could anticipate enhanced initiatives in line with the government’s efforts to address housing issues.

“We can expect increased allocations and higher eligibility limits for civil servants as part of the government’s thrust to tackle the housing affordability issue.

“The (economic) headwinds are not likely to derail domestic growth’s momentum due to the favourable external environment, which is expected to continue through 2018,” he told the New Straits Times. Yeah, who is also Bank Negara’s Monetary Policy Committee external member, was responding to Prime Minister Datuk Seri Najib Razak’s tweet yesterday.

Najib, on Twitter, hinted about new initiatives in the upcoming budget, following increased housing loan eligibility and allocations for civil servant in the 2017 Budget.

In the same tweet, Najib posted a 2017 Budget’s infographic that stated the government had increased the housing loan eligibility from RM120,000 to RM200,000, with maximum loan increased from RM600,000 to RM750,000.

Congress of Unions of Employees in the Public and Civil Services (Cuepacs) had, in its wishlist for the government to consider in the 2018 Budget, suggested the development of three-bedroom houses priced at RM90,000 to RM100,000 for civil servants.

The wishlist, which was unveiled on Oct 16, also called for the government to revise federal and housing allowances for civil servants in Sabah and Sarawak, as it had not been done in a long time.

Cuepacs also asked the government to consider bringing down home loan interest rates for civil servants from four per cent to one or two per cent.