Exploring housing opportunities

The Department of Finance officers have attended a presentation by Bank South Pacific on First Home Ownership Scheme on 3 of July, 2020 at the APEC Haus, Port Moresby.

The presentation also saw other partner agencies Nambanwan Super Fund, BSP Life Insurance and Housing Contractors who were there to assist the officers.

There were number of Housing Contractors who showcased their products and also site inspection was arranged for interested officers to participate.

Secretary Dr Ken Ngangan when speaking during the BSP First Home Ownership Scheme said this is an information session that the Department is bringing together all interested parties that are involved in the public housing scheme.

He said this is the opportunity for officers to see and participate in this scheme.

‘‘The Department of Finance is not responsible for the Government housing scheme; this scheme comes under the Department of National Planning and Monitoring,’’ he said.

He further stressed that for the Department of Finance we are just bringing together the opportunities that are available and see where we can participate in this program.

BSP representative Ms Salome Ban said the First Home Ownership Scheme (FHOS) is the initiative of the Government of Papua New Guinea in partnership with Bank South Pacific.

She said this scheme aims to encourage Papua New Guineans to own quality and affordable homes, providing stimulus growth and to promote economic development.

Nambanwan Super Fund Chief Executive Officer Mr Paul Sayer said this presentation is vital because when you reached retirement age or retire from work it is good that you have a house and super fund.

Minister for Finance and Rural Development Hon. Rainbo Paita is also very supportive behind this program and pledges to give his support wherever he can to see this program successful.