Incentives to housing for first-time buyers and free rice were among several measures Putrajaya announced as part of its Budget 2016 revision to help the lower-income groups tackle rising living costs.

Prime Minister Datuk Seri Najib Razak stated 11 measures, including the liberalisation of approved permits for agricultural products like coffee beans and meat, so as to reduce the cost of daily necessities, while hardcore poor families will receive 20kg of rice every month in the MyBeras programme.

“We are not alone in facing the global economic challenges,” Najib said in a tweet.

“Other countries are also facing uncertain economic conditions #Bajet2016,” he added in Malay.

The prime minister announced that the sale of houses costing below RM300,000 will be limited to first-time house buyers.

For the public housing project involving houses that cost RM35,000, the government will offer, through Bank Simpanan Negara and Bank Rakyat, a financing package at a rate of 4 per cent for more than 10,000 homeowners.

The prime minister also said the government will increase the number of shops with affordable prices from 640 to 1,000.

The Federal Agricultural Marketing Authority will also open a market called MyFarm Outlet that will sell food 5 to 20 per cent cheaper than market price.

Source: TheMalayMailOnline.com