Region Three landowners receive steel and cement subsidy

Thirty-six residents from communities in Region Three (Essequibo Islands- West Demerara) will soon commence construction after receiving the steel and cement subsidy from the Ministry of Housing and Water on Friday.

The vouchers, each valued $225,000, were distributed as the Ministry held its first ‘Dream Realised’ initiative for the year in the region.

The subsidy is designed to promote home ownerships by providing support to citizens to construct their own home.

Persons building homes estimated at $6 million or less will receive steel and a sling cement for their foundation while homebuilders with estimates above $6 million to $25 million will benefit from two slings of cement.

Minister within the Ministry of Housing and Water, Susan Rodrigues said the subsidy, one of several offered by the ministry, is significantly reducing building cost for individuals.

Another similar programme persons can utilise to help them acquire home ownership is the mortgage interest relief scheme.

“Ultimately our goal is not just to allocate land but to help people to acquire home ownership.

“So in response to that we have introduce programmes such as the steel and cement subsidy and the mortgage interest relief through which we have been able to control prices and working with the banks to reduce interest rates,” Rodrigues explained.

One of the beneficiaries, Basmattie Seenarine applauded the government initiative. She applied for the subsidy more than a year ago.

“I feel very happy. It’s been over a year I applied for it and I finally got it.

“Now I can start my home and it’s a very big help for me to start my home,” Seenarine said.

The vouchers are redeemable at Gafson’s Industries Limited, National Hardware, Cemmax Procurement and Contracting Inc, David Persaud Investments Limited, and Eddie’s Managerial and General Service.