Low interest mortgages, construction materials for Joint Services members- Pres Ali

Last Updated on Wednesday, 21 December 2022, 23:45 by Denis Chabrol

Soldiers, police, fire fighters and prison service personnel are to get low-interest mortgages and some construction materials, President Irfaan Ali announced on Wednesday during his visit to the Guyana Defence Force’s (GDF) headquarters, Camp Ayanganna.

“This is real work. This is how we are committing ourselves to your development and this is not only for you. This is across the board for all our men and women in uniform, all our men and women in the Joint Services,” said Dr Ali who is also Commander-in-Chief of the Armed Forces.

He also announced that on December 28, 2022, representatives of the three commercial banks and the New Building Society (NBS) would be at Camp Ayanganna to process mortgage applications for soldiers who have been allocated house-lots by the government. “The banks will approve your loan right here so in the New Year you can move t0 home ownership; you can move to owning your own homes and developing your own homes for your family,” he said.

Dr Ali said already government has negotiated interest rates of 3.5 percent for loans below GY$4 million and 3.75 percent for loans below GY$8 million.

Additionally, the President said under government’s Home Support Programme, free designs, and free steel and cement for building foundations.

The President also announced the one month annual salary bonus “in keeping with our commitment to our men and women in uniform.”

In clear reference to the scrapping of the one month bonus to the Joint Services by the A Partnership for National Unity+Alliance For Change administration, he asked the soldiers whether they recalled the period when that salary incentive was stopped.

The President reminded the soldiers that the Air Corps, Coast Guard and other military operations were being retooled. “We are investing to give you the best equipment so that you can be the best that you can be for your country,” he said.

Meanwhile, Chief-of-Staff of the Guyana Defence Force Brigadier Godfrey Bess that he would next year be proceeding on retirement and so he would not be present at the helm of the military in December 2023.