The UB Post-Leading English News

The Government earlier decided to buy 4,000 housing units in a bid to subsidize those recession hit construction companies, and provide public servants under a long-term loan. The Government intends to buy housing units at a fixed price of Tg650,000 payable per one meter square space, while construction companies wants to sell one meter square space for at least Tg900,000.

Construction companies claimed that it is “truly impossible” to sell what government offers because they bought the land “expensive”, and had outstanding loans to commercial banks.

Another debated issue is whether the government should make the purchases through private commercial banks to which large sum of credits and loans have been locked, or through its state-owning mortgage-financing corporation.