“You will be here in your country forever , don’t think about renting someone else’s house forever”, Prime Minister James Marape made this statement when he announced recently that the government will make land available for every working Papua New Guineans to own and build their own homes.
Prime Minister has urged all employed citizens who have a formal income to keep a look out for land that the government plans to unlock in due time.
Working class both in the private sector and the public sector who want to own a land, the Minister for Lands is currently trying to unbundle all land that has not being developed as yet and will make these land spaces available for working Papua New Guineans to own and build their homes.
“For those who did not fulfill their contract to develop land and all those land that has not being given out yet, we are trying to mobilize all of land to unbundle under the first time home ownership scheme for Papua New Guineans who are working right throughout the country ,”said Prime Minister.
He Every Papua New Guinean should be ready to get into this first time home ownership program because, no one has to go through long lines and long processes at the lands office to get land but they only have to save up and get into the loan program that the government had already establish as a partnership program with BSP.
“You might as well pay off for your own house through our lending program with BSP.”
Prime Minister said the government is thankful for the partnership with BSP for the 4% BSP first time housing loan scheme that has a 40 years repayment period.
He said; “such low rate and long repayment period can never be found anywhere else in many other countries and all working class Papua New Guineans should be saving up their collateral and be on the lookout for available land.”
Prime Minister further highlighted that many Papua New Guineans will be asking where they can get the collateral to go to BSP to apply for housing loan when tax is high and living expenditures are also very high.
PM said the simple answer to these questions is to stop all bad habits and stop all unnecessary spending in order to save money as your collateral.
“Do not cry or look around for more money or don’t imagine a fake million kina is coming to your account from somewhere to help you get that housing loan!”
“From what you earn today, reprioritize spending and cut the crap about so much money to haus krais.”
He said Instead of spending a K300 at a haus krai, spend K50, instead of the unnecessary spending on cigarettes, buai and smoke you waste your money on and go into a healthier lifestyle.
“You will be surprised that in 2-3 years time you will have the K20, 000 or K30, 000 you need so you can enter into the first Home ownership program,” said Marape.
It is the people’s tax that keeps this country running, and the government wants to give back to the people through the housing program he said.
The 40 years repayment will be transferred to your child when you are gone so they carry on the repayment, so you and your family can continue to live and enjoy your lives on your own land in your own homes.
