MEMBERS of the Lautoka Residents and Ratepayers Association are looking forward to what the new agreement between the Fiji National Provident Fund and Government would bring to ratepayers in Lautoka City.
Association president Narend Reddy said the fund’s project to build multi-family units would benefit new homeowners.
“I think it’s interesting and I’m looking forward to how the multi-family units are going to work,” he said.
“But the incentives for first-time homeowners are good and will encourage more people to buy or build their own homes.”
He said while they welcomed the housing benefits, there should have been an incentive for long-term homeowners.
“There should be something for people who have owned a home for more than 15 to 20 years.
“If they have homes that they are still trying to pay off, Government should provide an incentive to pay off or write-off that money.
“They have been active citizens who pay their town or city rates and they pay annual land rent.
“Something should also be provided for these residents.”
He said the association also welcomed Government’s decision to provide assistance for mothers and allow paternity leave for fathers.
In the 2018-2019 National Budget announcements, Minister for Economy Aiyaz Sayed-Khaiyum said a new agreement would soon be signed between Government and FNPF to develop new multifamily units.
He said these housing complexes would not require any direct capital from Government.
“This partnership will not only diversify FNPF’s investment portfolio but upon completion, create a multi-family complex for families and open a large infantry of affordable options in the highly developed market.”
