President Irfaan Ali has stated that more than 350 new small contracting businesses have been created to facilitate the government’s housing drive, among which are recent University of Guyana graduates.
Speaking at the recent Building Expo, he noted that since the government’s negotiation for the reduction of interest rates on mortgages, there has been an increase in housing loan applications.
“As a result of that initiative, we have more than 350 new small contractors that are building those homes, new small contractors that would have entered the system that are now building those homes and owning their own businesses. Many of them, young graduates from the University of Guyana. More than 350 new small contracting businesses created alone as a result of this housing policy and housing drive. And if you multiply that, by a minimum of five, you will understand implication for labour only in the home construction. That is 2,000 homes the minister is talking about”, he said.