KUALA LUMPUR: People renting low-cost houses in the city will be able to purchase them 20 to 30 per cent lower than the market price. Federal Territories Minister Datuk Raja Nong Chik Raja Zainal Abidin, however, said those who bought these units could sell them after 10 years.

“The move is in line with the wishes of those who are renting the units as they had always wanted a chance to own them.”

He said only those in People’s Housing Projects (PPR) and City Hall flats were eligible to buy the units.

“I will announce more details once the cabinet gives its green light.”

On the 50 per cent discount on licence renewal fee for hawkers and petty traders in the city, Raja Nong Chik said the decision came on the heels of complaints over rising cost of raw materials and deteriorating business due to the sluggish economy.

“We hope with this move, their burden will be lessened and they, in turn, won’t increase the prices of their goods.”

(Source: New Straits Times)