Govt to review policy requiring developers to provide affordable housing, says PM

Prime Minister Anwar Ibrahim wants the local government development ministry to review conditions set for housing developers to ensure that they provide affordable housing for all mega projects developed. 

Anwar, who is also finance minister, said this was necessary as the requirement for these projects to include at least 30% of affordable housing was not following according to the schedule and scale set. 

"That is why I have asked Local Government Development Minister Nga Kor Ming to review and set new conditions," he told reporters after handing over keys to the Madani Dalur housing for civil servants in Putrajaya today.

Anwar said housing developers must abide by this condition so that the middle-income group can afford their own homes.

The government has required private housing developers to build at least 30% of affordable housing in mega housing projects since 1981.
 
Anwar said affordable housing was something that meant a lot for the middle-income group as home ownership was a real issue for them. 

He said about 200,000 units priced at RM300,000 and below are needed to meet the housing demand of civil servants throughout the country.

In another development, Anwar said the current depreciation of the ringgit is not because Malaysia does not have a "full-time finance minister". 

"Tell the person who suggested that to read up on the economic and financial reports instead of PAS' report," he said, referring to PAS assistant secretary-general Mohd Syahir Che Sulaiman who was reported to have said that the fall of the ringgit was because Malaysia does not have a full-time finance minister. 

Yesterday, Economy Minister Rafizi Ramli said the depreciation of the ringgit since February 2023 was due to various crises in the US and that the situation was beyond the government's control.

Since the beginning of 2023, according to Rafizi, the US has been facing several issues, including the collapse of Silicon Valley Bank, and the ongoing US debt ceiling limit impasse.