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The National Housing Trust (NHT) is reporting a significant increase in its operational efficiencies as a result of several initiatives pursued during the financial year.
In its annual 2004/05 report laid before the House of Representatives on Tuesday (Sept.13), the Trust said the establishment of a special unit at the Titles Office of the National Land Agency to register its annual mortgages has seen a reduction in the registration time to 10 days, down from four weeks.
This in addition to a reduction in the rejection rate for documents with typographical errors and direct access for enquiries on NHT documents sent for registration.
According to information contained in the report, the establishment of a composition arrangement with the Stamp Office has lead to greatly reduced processing times and increased customer satisfaction.
For the financial year the NHT also refunded some $1.2 billion to its contributors, an increase over the previous financial year which it partially attributes to its public awareness programme launched in the previous year.
Meanwhile the Trust says, with its Customer Centered Business Model, under which it has designed an approach to customer service, several outcomes are expected in the upcoming year inclusive of a 95 per cent reduction in customer complaints by September 2006 and a 90 per cent customer satisfaction index by March 2007.
The NHT says with the improvements to its Network Infrastructure to enable simultaneous processing of transactions and faster processing in areas such as the posting of transactions, report generation, general ledger updates, processing of queries and user acceptance testing.
As at March 31, 2005 total assets of the NHT amounted to $72.9 billion representing an increase of $8.6 billion over the total assets for the previous financial year.