CH&PA Jubilee plan: Middle, high-income earners main beneficiaries

…received $590M in write offs

The Jubilee payment plan, which was offered by the Central Housing and Planning Authority (CH&PA) under the aegis of the Communities Ministry, saw more than two thirds of beneficiaries being those persons that were allotted middle and high-income house lots.

This information has since been disclosed by CH&PA when it recently provided a breakdown of the entity’s performance over the past year.

According to the information released, a total of 2881 applicants benefited from the plan paying over to Government a total of $590 million during the course of March and May 2016 during which time the Administration made its offer available.

Only seven (7) persons in the very low-income category benefited from the Jubilee payment plan.

Those persons were allotted house lots at a cost of some $59,000, while 215 persons in the low income categories at $92,000 per lot managed to benefit from the plant.

A total of 524 persons who were allotted house lots in the range of $150,000 and $200,000, considered by Government to be moderate income earners, benefited from the Jubilee plan. Middle-income lots ranging from $500,000 to $1.2 million saw 1440 persons cashing in on the Jubilee payment plan.

The highest category of house lots awarded – in excess of $1.5 million – saw a total of 695 persons benefiting.
The almost 3000 persons cashing in on the offer benefited from a total discount of $590 million.

Government had also offered an additional subsidy towards home improvement and saw the programme offering beneficiaries a maximum of $50,000 in building materials, redeemable via vouchers, to effect approved improvement works to their existing basic building.
CH&PA has since indicated that the subsidy saw persons from across the country in each Region benefiting. (Guyana Times)