Gov’t Intends to Transform NHT into Well-Run Financial Institution – PM

Prime Minister, the Most Hon. Andrew Holness, says that the Government intends to transform the National Housing Trust (NHT) into a well-run financial institution that can adequately support the provision of affordable housing solutions.

He was speaking at the ceremony to break ground for the Maxfield Park Development Project in St. Andrew on Wednesday (October 3), where he announced that the strategic review of the NHT is to be debated in Parliament before the end of the year.

“It is already a very packed Parliamentary agenda, but I believe we should go into next year with a decided vision, both Government and Opposition, as to what will be the future of the NHT,” the Prime Minister said.

The strategic review, which was commissioned by the Prime Minister in July 2016 and completed in November 2017, aimed to assess and improve the operations of the agency.

“That report has in it many proposals as to how we can reform the NHT so that it can both support the national agenda items such as the economic programmes, but also how to expand its true mandate, which is to increase homeownership in Jamaica,” Mr. Holness said.

The review will form part of the strategic National Housing Policy and Implementation Plan to provide the enabling framework within which the Government can realise its goal of access to affordable, safe and legal housing solutions for all Jamaicans by 2030 in keeping with the National Development Plan, Vision 2030 Jamaica.

The assessment is expected to assist the entity in satisfying the demand for housing in a coordinated and economical manner and to respond to the diverse needs of disadvantaged and vulnerable persons within the society.