Proceeds from sale of PPR flats to be used for under-developed areas

KUALA LUMPUR: Proceeds from the sale of public housing units under the National Economic Action Council (NEAC) will be used to develop the under-developed areas either in Kuala Lumpur or elsewhere, the Dewan Negara
was told on Dec 22, 2009.

Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin said the money would be deposited into the Finance Ministry's group account before being used to implement beneficial projects.

"Proceeds from the sale of the public housing units under the Kuala Lumpur City Hall (DBKL), however, will be deposited into the DBKL account as capital for DBKL," he said in reply to Senator Datuk Rizuan Abd Hamid.
Rizuan who wanted to know where proceeds from the sale of public housing units were channeled to.

Raja Nong Chik said part of the money would also be used to finance the maintenance of the flats sold by the NEAC and DBKL.-- Bernama