SELANGOR will waive hawkers’ licence fees and assessment payments for owners of low-cost houses for 2023, Ng Sze Han said.

The local government and public transport committee chairman said Selangor decided on this measure as the country was still recovering from the effects of the pandemic. 

Ng said it was to reduce the people’s financial burdens, in view of inflation and the hike in the overnight policy rate (OPR).

“This is the eighth year of these waivers, after these exemptions were first implemented in 2016.

“This move will cost Selangor up to RM68.74 million as the state government is committed to helping the people get through these difficult times,” he said in a statement. 

On September 8, Bank Negara Malaysia raised the OPR by 25 basis points to 2.5%. This is the central bank’s third consecutive rate hike, after increases to 1.75% in May and 2.25% in July respectively.

With the continuing inflation, the increase in OPR will lead to borrowers forking out more on their monthly loan repayments.

Marimuthu Nadason, president of the Federation of Malaysian Consumers’ Associations also said the increase will impact the B40 and M40 groups the most. 

He said the increase would further add to the people’s household debts as the cost of living has also risen. – September 15, 2022.