Housing and Public Works Minister Engineer Mosharraf Hossain has proposed a Tk 20-50 billion fund to invigorate the housing sector by offering ‘single digit’ loans to low- and middle-income groups, reports bdnews24.com
He sought the cooperation of the prime minister and the finance minister in helping create the fund.
Mosharraf was speaking at the inauguration of the ‘Rehab Abasan Mela 2015’ at the Bangabandhu International Conference Centre on Wednesday.
He said housing loans to low- and middle-income people were essential to lift the housing sector out of recession.
“The low-income and middle-income people will not default on loan repayment. Rest assured, the investment will not go the Destiny or Hallmark way,” the minister said.’
The private sector should be allowed to play a bigger role, he suggested.
“The country’s housing problem will not be solved unless the private sector steps in. Every country has its house loans. Relaxations are needed if this sector is to be saved.”
He said ways should be found to allow the investment of ‘undisclosed money’ in the housing sector in order to prevent a stashing away of funds abroad.
“There was a time when no questions were asked about the source of money at the time of buying a flat. But now inquiries are being made. Money being siphoned away ought to be retained.”
Alamgir Shamsul Alamin, President of builders’ organisation REHAB, chaired the function. Its Vice President Wahiduzzaman and Liaquat Ali, among others, spoke at the event.