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Port Moresby Governor Parkop clarifies on IFC Affordable Housing Scheme

MEDIA RELEASE-JULY 15, PORT MORESBY: NCD Governor Powes Parkop has clarified that Post Courier’s July 5th article asserting that the city’s home ownership scheme is offering a home loan of K150,000 is misleading.

It was published that ‘Port Moresby’s latest home ownership scheme is offering a home loan of K150, 000 with low repayment interest rate designed for low to middle income earners.’

It further stated that K150, 000 was being offered by the National Capital District Commission in partnership with the International Finance Corporation.

Governor Parkop clarified that he never spoke or talked to the newspaper about the housing loan.

“That figure is the threshold amount we are aiming for to achieve affordable housing. When they asked me about the cost, I explained that we are working on a Cabinet submission to NEC on affordable housing and the threshold we are aiming for is K150,000. There was never any discussion on loan at this stage.

“Let me make it clear that I was only talking about the agreement we signed with IFC to build affordable housing at Saraga in Six-Mile. The reference to K150,000 was in relation to the mechanism for affordable housing we will be submitting to NEC for approval via our Housing Minister. We have been in consultation with stakeholders and have set the threshold for affordable housing at K150,000. That means we want the NEC to provide support to the building and housing industry so they can build houses or accommodation below that threshold,” Mr Parkop clarified.

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