Prime Minister Andrew Holness says that the Government’s decision to draw down on National Housing Trust (NHT) money was as a consequence of “circumstances” and not just to use the funds to do other things.
He was speaking at yesterday’s groundbreaking ceremony for the NHT’s newest project, Ruthven Towers, a four-pillar six-storey modern apartment building complex located at lot 1-3 Ruthven Road in New Kingston.
“It should be clear to the entire Jamaica that it is not the intention of this Government to use up the NHT money to do things other than build houses,” said Holness.
“It is just circumstances that made the case why we had to do what the previous Government did. And I see the smile of agreement from Julian (Robinson),” he said, tongue-in-cheek.
He was referencing his decision earlier this year to draw funds approximating $27.4 billion from the highly financed NHT for budgetary support, a move he had questioned while in opposition, when in 2013, the Portia Simpson Miller administration amended the law to take $45.6 billion from the Trust over four years for fiscal support under a deal with the International Monetary Fund.
Holness, who has responsibility for the NHT, said that to compensate borrowing from the NHT, his Government “must show the intent to fulfil the mandate of the NHT, which is to build more houses for Jamaicans”.
Ruthven Towers sits on 23,181.75 square metres of land (5.71 acres). Construction will begin in November and is scheduled for completion in July 2019. Phase One will consist of 64 one-bedroom and two-bedroom apartments.
Leave A Comment