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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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New housing fund to subsidize cost of houses

bycitibusinessnews
January 11, 2017
in Government, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Minister nominee for Works and Housing, Samuel Atta Akyea has stated that the NPP government will introduce a housing fund to subsidize the cost of housing for low income earners.

According to him, financing is one critical factor that has impeded Ghana’s efforts at reducing the widening housing deficit.

Mr. Atta Akyea also believes the high cost of housing units has made it unattractive for real estate developers to build more housing units over fear of low occupancy levels.

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“If the income levels are low by virtue of the economic situation, then there should be a Housing Fund without which people who are interested in building houses, will not be motivated to build houses that people will not occupy ,”he said.

Mr. Atta Akyea further explained that the Housing Fund should help restructure the current mortgage system that makes it difficult for low end income earners to meet their monthly obligations.

“What is critical is how to cushion the end user from a mortgage arrangement that will not dent his pocket. Mortgages are usually a factor of one’s income; somebody cannot afford an eight bedroom house while another can afford a single bedroom house. But the income levels should just be enough to take care of the mortgage payments to make every month,”

Lawyer Atta Akyea made the remarks when he spoke to journalists after his nomination on Wednesday.

The Member of Parliament for Abuakwa South also identified his priority to be to pursue government’s affordable housing agenda upon his approval by Parliament.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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