On opening of loans

Sir,

I am happy to note the finance minister’s announcement that housing and vehicle loans will be opened up soon. I think this a progressive step and the government needs to be congratulated. However, I also have few issues on the loans and the conditions on which they are being opened up.

First I am not comfortable with a Nu 20 mn limit in commercial houses as the real cost of making such buildings is around Nu 40 mn these days. This will create a housing shortage in the future as many commercial builders sell flats while others rent them out.

Another absurd guideline I read is that people wanting to build their own homes will only get Nu 3 mn and that too one loan per family for a lifetime. The Nu 3 mn amount is totally inadequate as the real cost of building a family home especially in Phuntsholing would be around Nu 5 to Nu 6 mn even by conservative standards. In fact cars these days cost more than the Nu 3 mn proposed.

In fact many people in border areas like Phuntsholing are forced to stay across the border due to lack of housing facilities.

I will hope that the government will convince RMA to make the guidelines and rules more flexible so that it reflects the ground reality the ordinary people can benefit.

Tashi Wangchuk

Phuntsholing  

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