HEAD of State Donald Ramotar believes that while it is important to have a strong and growing economy, what is more important,“is what we do with it, and ensure the people benefit from a vibrant and growing economy.”

President Ramotar was at the time speaking at the official launching of the latest housing scheme to be established by government. And he spoke to the fact that the establishment of such schemes, along with policy initiatives allowing for access to affordable financing, is but part of government’s push to allow Guyanese to benefit and share in the sustained growth of the economy in recent years.
The president told those that had gathered at the Perseverance site along the East Bank Demerara corridor that runs parallel to Providence, that while the administration would have gone a far way and while the push for a better quality of life for citizens through home ownership is not as difficult as it was in the beginning, “we still continue to believe we have to give more and a better quality of life, and housing continues to be a central point in that regard.”

SUCCESSES GAINED
Ramotar said that all involved in the process must be congratulated for the successes gained thus far, as he reminded of the importance of home ownership to an individual, especially persons that would have been living in a rented abode.
He reminded of the importance of home ownership to an individual or family in terms of it being an asset and a sense of security for those individuals.
Ramotar said that while it would certainly not be a cure, home ownership would go a long way in looking to reduce domestic related ills, even if just “quarrels.”
According to the Head of State, he is of the firm conviction that, “people are the most important factors for the development of our country…we have to concentrate on the quality of people we have and one of the way to give people the quality of life is to allow them to live in their own homes, in a more conducive environment.”
He said that in a conducive environment provided through the government’s home ownership drive, persons would be better able to develop themselves individually, and that would serve to have a ripple effect in the environment, and ultimately the economy of the country.

TARGETS EXCEEDED
The President reminded that in the 2011 election manifesto of the People’s Progressive Party Civic, there was a promise of 30,000 houselots.
According to Ramotar, in the past year, the Central Housing and Planning Authority exceeded its target by facilitating the delivery of in excess of 7,000 for the year.
Ramotar said that on the East Bank of Demerara alone, some $3.6B had been invested in the sector to facilitate the initiative.
The President said that the Turnkey home initiative, allows persons, through the Ministry of Housing, to acquire a house completely built as against just a house lot.
This, he said, has captured the imagination of a large portion of the population.
The President said that he can readily relate to the fact that many persons may not be in a position to source the required personnel and supervise the construction of their home from the ground up, hence the drive to have person’s access homes already built by government.
“The Ministry has recognized the need to diversify the way it operates, so that the needs of all Guyanese are met.”

MULTIPLIER EFFECT
Finance Minister Dr Ashni Singh, who also addressed the gathering at the official launch, spoke to the multiplier effect on the local economy by the housing drive, as a result of what he termed a unique inter-relationship among the financial institutions, the construction sector and home owners, and other partners.
This unique inter-relationship, according to Dr Singh, has significantly contributed to the sustained economic growth experienced over the past seven years.
Dr Singh used the opportunity of the launching of the ‘virgin housing land,’ to point out the fact that the presence of the president himself at the occasion demonstrates the importance which the administration places on housing and home ownership.
He said that the housing drive by the current administration can fairly be described as “foremost among our accomplishments in transforming the landscape of Guyana.”
The minister posited that for many, it may be easy to forget the distance travelled; but he recalled that as recent as 15 years ago, the Diamond Housing Scheme on the East Bank Demerara did not exist and was just cane fields.
He said that today it is a thriving community that serves as home to thousands, and also houses businesses for hundreds while providing all of the social services required.
Such has been the development of the scheme, according to Dr Singh, today it takes on a feeling of having been there from time immemorial.
Diamond, he said, is but one example; and he listed Parfaite Harmonie and Tuschen as among the many such communities that have been established and serves as home to thousands of Guyanese across the country.

CLASSIC EXAMPLE
The national housing programme is the classic example of how government policy, along with private sector response and a national effort can transform the country.
He said that the administration has been at pains to ensure that affordable financing can be made available, and added that through government policy, banks and other institutions have responded.
This, Minister Singh said, has resulted in persons accessing loans and the money from the loan would not only serve to just build an edifice to call a home but would have a multiplier effect as materials such as sand, cement and stone would have to be purchased, as well as the fact that jobs would have been created through the construction of each home.
According to Dr Singh, wages paid to carpenters, masons and other such workers engaged in the construction of even the modest of homes, would find their way into places such as stores, markets, and service providers, even if just to pay a minibus fare.
Speaking to just the 366 persons that would have accessed low Income loans in the first quarter of this year, Dr Singh said that some $690M would have been disbursed.
“This simple policy of removing taxes on the loans,” would have allowed for the money to be moved from the bank to the economy, and triggering the multiplier effect, according to Dr Singh.
He reminded of the mortgage rebate announced earlier this year and said that this move would see another $580M in disposable income being injected into the economy by ordinary citizens accessing the facility.

POLICY FRAMEWORK
“We in government have been at pains in establishing conducive policy framework…the outstanding economic growth in past several years in the most hostile external environment is also due to an extremely responsive private sector.”
Dr Singh asserted also that the “fact that the economy has grown the way it has grown, is also a result of the household effort.”
He also used the opportunity to commend the outstanding leadership, phenomenal energy and enthusiasm that in part led to the tremendous success of the national housing progamme through Minister Irfaan Ali.
And Housing and Water Minister Ali, in his brief remarks, firstly congratulated the corporate partners and the staff of the ministry, specifically the Central Housing and Planning Authority.
Minister Ali used the opportunity to announce too that the ministry is looking to foster an additional partnership, this time with furniture giant, Courts.

Furnished Homes Next
First the Ministry simply provided house lots, now it allows for access to completely built homes; and very soon, according to Minister Ali, citizens will be able to access fully furnished homes.
With the launch of the new housing scheme that will see some 1000 homes being built for access by Guyanese, Minister Ali reminded that the initiative is in keeping with President Ramotar’s vision as alluded to in his inaugural Independence Day address, “when he said housing will be the bedrock of Guyana partnership,”
At the time, Ramotar had promised moving from simply land ownership to home ownership; and according to Minister Ali, this “has been transformed into a reality.”