Proposal to use special fund for sick projects to be submitted to Finance Ministry, Dewan told

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Kuala Lumpur: The proposal to use the special guarantee fund to restore sick or abandoned projects, announced in the recent Budget 2024, will be submitted to the Ministry of Finance (MOF).

Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir said that, among the points in the proposal, was to use the fund for affordable housing projects under RM300,000, and for projects with at least 80 per cent progress status.

He said the move was based on an investigation that showed the developers were neglecting their responsibilities and could affect the interests of buyers.“In addition, developers can also be compounded up to a maximum of RM50,000 if they fail to fulfil their obligations as stipulated under Act 118 Act 1966) and its regulations.

Meanwhile, answering a separate question raised by Chiew Choon Man , Akmal Nasrullah said that a total of 256 private sick housing projects were successfully revived this year. He added that the task force for sick and abandoned private housing projects confirmed that as of Aug 31, there were 90 delayed private housing projects and 485 private housing projects in the sick category .

 

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