The Strategic Planning Committee raises its recommendations on resolving the housing crisis to vote before the House of Representatives

The committee to monitor the implementation of the government program and strategic planning headed by MP Mohammad Ali Zinni and the presence of its members on Monday, 8/7/2019 session to discuss the recommendations prepared on resolving the housing crisis in Iraq.

During the meeting held at its headquarters, the committee discussed the recommendations of the Ministry of Finance, in coordination with the Central Bank, to establish a real estate finance program in which interest shall be determined at a rate not exceeding (2%). The loan period shall be a maximum of 25 years, For (75) million dinars and every citizen not less than 18 years old.

The committee pointed out that the size of the allocations required for the housing and construction sector in the 2020 budget is 4.5 trillion dinars allocated for infrastructure projects and the real estate bank and the Housing Fund and for the completion of housing projects sluggish.

The Commission also committed the National Investment Authority and the concerned parties to announce all investment projects according to economic feasibility in order to create an atmosphere of competition among investors and reduce corruption and blackmail, as well as prepare an integrated plan for the conversion of industrial areas and unoccupied land belonging to the state in the capital and provincial centers to urban housing complexes And allocate the necessary amounts.

The committee stressed in its recommendations the support and encouragement of the national industry for construction materials and facilitate the lending process, and to find a top sectoral sector executive to manage the housing problem and has the authority to transfer land owned by any state institutions for the purpose of building housing complexes for citizens and the government to adjust its government program to suit With these recommendations that are in the interest of the citizen.

At the end of the meeting, the Committee decided to raise the recommendations for a vote in the House of Representatives during this session because of its importance in finding a quick solution to the housing crisis in Iraq.

Article Credit:
Special thanks to Charles Bright!!