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| Ong: Lots of benefits for property sector |
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| BUDGET 2008 is comprehensive and caring, Housing and Local Government Minister Datuk Seri Ong Ka Ting said. |
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| Ong, who is MCA president, said the Budget would stimulate the property sector. It also took into consideration the needs of ordinary folks, especially those in the lower-income group. |
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| “For example, EPF contributors can make monthly deductions from their EPF account to buy a house and for those who do not have a fixed income, the Government has allocated a fund to provide guarantees to the banks,” he said. |
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| He welcomed the 50% exemption on stamp duty for those buying a house not exceeding RM250,000, saying that it would help to ease the financial burden of buyers and boost the property sector. |
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