'Pay HDC for Govt houses, not TTMF'
Cabinet yesterday decided that payment for Government houses will be made to the Housing Development Corporation, and no longer to the Trinidad and Tobago Mortgage Finance Company.
Cabinet held its weekly deliberations yesterday at the Diplomatic Centre, St Ann's but no post-Cabinet news conference was held.
Following the Cabinet meeting some members of the Government met with a team led by Opposition Leader Dr Keith Rowley and held discussions on legislation relating to the death penalty.
Speaking with the media after that meeting, Moonilal said several decisions were taken and statements will be made in the Parliament today by respective Ministers.
"Cabinet discussed a matter involving the Housing Development Corporation and the Trinidad and Tobago Mortgage Finance institution and the Cabinet did take a decision to reverse a previous policy position by the former (People's National Movement) PNM administration where they decided in 2009 that on the sale of homes to HDC applicants, the money would reside with the TTMF and not the Housing Development Corporation," he said.
He added: "We reversed that decision today so that on the sale of those housing units, the money goes to the HDC which can then be used for construction and not rely solely on the treasury, the (Public Sector Investment Programme) PSIP or even borrowing."