The Real Estate and Housing Association of Bangladesh (REHAB) has demanded the formation of a special fund of Tk 3,000 crore to keep the country’s housing sector alive in the face of the impact of the current global war situation. In this regard, top leaders of REHAB met with the new Governor of Bangladesh Bank Md. Mostaqur Rahman today and formally presented the proposal, a press release said.
REHAB President Md. Wahiduzzaman, Senior Vice President Liaquat Ali Bhuiyan and Vice President-1 Lion M. A. Awal (former MP), Directors Md. Kamrul Islam and Miraj Muktadir were present in the meeting held at the head office of Bangladesh Bank on Tuesday. At this time, they highlighted the current situation of the country’s housing sector and expressed the need for policy and financial support from the central bank.
REHAB leaders said that the housing sector is one of the most important sectors of the country’s economy and more than 250 industries are directly and indirectly involved in it. But due to the recent global instability and war situation, the price of construction materials has increased, financing crisis and uncertainty in the market have arisen. As a result, serious problems have arisen in the housing industry.
In this context, REHAB leaders proposed to form a special fund of Tk 3,000 crore to sustain the housing sector and keep the ongoing projects running. At the same time, they also emphasized the introduction of low-interest long-term housing loan facilities for middle-class and lower-middle-class people and simplifying the housing loan approval process in banks.
At the end of the meeting, a formal letter prepared by REHAB was handed over to the Governor. The leaders of the organization expressed the hope that Bangladesh Bank will provide the necessary policy and financial support, considering the importance of the housing sector.
The new Governor of Bangladesh Bank, Md. Mostaqur Rahman, listened to the statements of the REHAB leaders and assured them to take action considering the reality.
The REHAB leaders hope that if the proposed special fund is formed, the country’s housing sector will get new momentum, investment will increase and it will be easier for the common people to buy housing.
