BUTTERWORTH: The Penang government will not approve housing projects from developers who lend money to buyers at a higher interest rate than the banks.
Chief Minister Lim Guan Eng said his administration does not agree with such a proposal as the suggestion will increase the people’s hardship.
He said some borrowers face difficulties in repaying housing loans based on the 6% interest rate and feared an 18% interest rate will be too much to bear and may result in bankruptcies.
To read the full article, you can visit Penang Says No To Higher Interest Rate
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