Minister of Finance Mohamed Shafeeg discloses that President Dr. Mohamed Muizzu has adviced to allocate 50% of the Public Sector Investment Programmes (PSIP) budget of the next year for housing projects. He made the statement during a meeting of the Parliamentary Committee on Public Accounts.
Speaking at the committee, Minister Shafeeg noted that the government aims to solve the issue of housing by the end of its tenure. Citing that the root cause of all of the problems in the arising in the nation is the lack of adequate housing, the finance minister stated that the administration gives high priority to solve this issue.
Minster Shafeeg added that the government aims to implement housing projects with the help of various facilities. As such, he noted that the aim is to start work on 4,000 housing this year, under line of credit facility by India. He noted that the existing financing facilities will be focused on housing, with nearly $300 million of the line of credit available for housing.
Earlier this week, the Minister of Housing, Land and Urban Development disclosed that the government will be launching a major housing project before the end of this year. He stated that the government aims to build 85,000 housing units before the end of its term.