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Wednesday , October 27 2021

MoCI keeps word, to increase construction material subsidy

Move to help citizens build homes easily

KUWAIT CITY, Jan 7: In confirmation of what was published on December 28, Minister of Commerce and Industry and State Minister for Economic Affairs Faisal Al-Medlej has allowed the replacement of the optional subsidized construction materials for citizens who acquired new housing loans, by increasing the amount of iron or concrete and air conditioning by KD 1,800, and KD 1,500 for those with loans for restoration of their houses, reports Al-Rai daily.

In a press statement, the Ministry of Commerce and Industry explained that the decision was based on the diligent follow-up of Al- Medlej, and based on the changes in global prices for some basic construction materials, and in the interest of supporting citizens, especially with the beginning of granting building permits to large numbers of citizens.

The beneficiary can increase the value of the subsidy for basic materials for new housing loan holders, such as iron, concrete, or air conditioning by KD 1,800 in addition to what was previously decided. The decision aims to make it easier for citizens to build or renovate their homes, and to provide the maximum possible support for them, as it allows the concerned person to replace the value of his optional materials by increasing the amount of iron or concrete and air conditioning.

According to the decision, every citizen entitled to housing support from a construction loan can choose the amount he needs from iron, concrete, and air conditioning among the optional materials (lime bricks, sigma, water insulation, heat insulation, sanitary sets, and electrical wires), which equals KD 1,800.

The citizens’ need to restore their homes was taken into account in accordance with the law and restoration loans, as the value allocated to the restoration loan increased from the optional support to KD 1,500. Commenting on the decision, the spokesperson of the Mutla’a Residents Committee Engineer Khaled Al-Otaibi expressed appreciation for the minister’s interest in citizens’ housing issues.

In a press statement, he said, “The committee appreciates Al-Medlej’s decision, especially since it met with him in the past weeks and conveyed the citizen’s concerns about the unjustified price hikes in construction materials. He then called upon the ministry’s officials to hold several meetings with us to iron out the citizens’ concerns in this regard.” Al-Otaibi concluded by thanking the minister and wishing all the ministers to follow his example in meeting the citizens, listening to their problems, and taking real steps on the ground in accordance with the law and in a way that would benefit the country and the citizens.

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