25.2 C
Port Moresby
January 24, 2022

NHC Policy to Help Generate Revenue

“The National Housing Corporation cannot support itself financially..,”

Acting Managing Director, Kenneth Cooke, told a media conference on Friday that the current rent collected is not enough to support the operation of this Government agency.

Mr. Cooke said the new Housing Policy will see changes in rental fees.

The Acting Managing Director says the new Housing Policy for NHC rental properties will be specifically to support and improve the financial standing of Corporation.

” The rental of NHC properties has been relatively stagnant over the past 35 years,” said Cooke.

NHC has not been competing with the private sector but has made efforts to provide affordable and better homes for Papua New Guineans.

The Housing Minister, John Kaupa, highlighted that as a Government agency, NHC will set a slight increase in the rental sealing is expected once the Parliament and NEC approves the Policy.

Kaupa said NHC will be part of the housing market in the country.

This will see NHC’s Commercial arm come into effect and generate revenue for the agency.

The Policy is hoped to be presented on the floor of Parliament mid this year.

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