–Croal says in response to opposition criticisms, defends budgeted funds for infrastructural development, housing sector

BOASTING that the government has already achieved 70 per cent of its goals in providing housing and improving the lives of the Guyanese populace, Housing and Water Minister Collin Croal on Thursday told the National Assembly that over 30,000 house lots have been distributed since the People’s Progressive Party/Civic (PPP/C) assumed office in 2020.

Croal, during his presentation on Day Four of the 2024 budget debate, also disclosed that works have been completed in more than 50 new housing schemes, and 23 kilometers of highways were also constructed.

“Our housing priorities are not just about wood and brick buildings; we are investing in our people,” he said.

He highlighted that new financial interventions were also developed to make the home ownership process easier and more accessible.

“We were aware of the hardships some allottees experienced trying to access loans to build their homes, and we were also acutely aware that many young professionals wanted to own their home but also had challenges, so we collaborated with the Ministry of Finance and the banking sector to make access to loans easier and faster,” Croal said.

These interventions and collaborations, he related, saw a reduction in residential mortgage interest rates at all lending institutions.

A review of the New Building Society Act saw the increase in the institutions mortgage ceiling from $12 million to $20 million, and offer lower interest rates on mortgages, while at the Guyana Revenue Authority (GRA), the Mortgage Interest Relief ceiling was raised from $15 to $30 million.

There was also an interest rate reduction at commercial banks, which has made low-income mortgages more affordable.

ENERGISED AND MOTIVATED

“The sector is energised, stakeholders are motivated, and the banks are committed to the support of a more flexible approach to the loan process. But we are not only focused on allottees; we are also ensuring that allottees can maximise their investment,” Croal said.

He further revealed that some 7,000 house lots and land titles were distributed, and the government has a target to deliver 5,000 more along with the construction of more houses this year.
“Even as we are allocating house lots and building houses, we have introduced complementary interventions to help applicants,” Croal related.

According to the minister, these programmes include the core-home support programme, where some 50 houses are being built in communities across Regions Three (Essequibo Islands-West Demerara) and Four (Demerara-Mahaica). These homes, he said, will go to the poor and vulnerable.

SQUATTING

As it relates to the issue of squatting, Croal maintained that the government has been keen on seeking out amicable solutions.

“Our approach is not piecemeal, we have devised a workable strategy to make the regularization of squatter settlements less combative,” he said.

The minister referenced the recent debacle of the Mocha squatters, where persons were occupying lands that were earmarked for development.

He noted that citizens who were occupying those lands were informed that they would have to move and were offered house lots and other housing ownership options at the cost of the state.

Croal reiterated the government’s support to citizens through the continued investments of the sector.

“At the heart of this budget are the needs of our citizens and our government’s vision to make Guyana better,” he said while responding to the criticisms of the budget by several opposition members of parliament.