The Housing Ministry, through the Central Housing and Planning Authority (CHPA), last Friday launched its ’1000 homes’ project at the Perseverance New Housing Development, targeting single parents and low income earners.
The project was launched with support from the private sector, whose members turned out in their numbers at the event.
Delivering the feature address, President Donald Ramotar said providing easier access to housing to Guyanese remains a core objective of his government.

President Donald Ramotar speaking at the launching of the 1000 homes project at the Perseverance new housing development

He underscored that while it is important to have a strong and growing economy; it is also essential to ensure that the people of the country benefit from it. He said government has recognised that access to housing is one of the main ways to make this possible and his administration has been feverishly working towards providing more housing to its people.
“The investment that we have been putting in has been big; last year alone, the investment was some Gy$3.36 billion on the East Bank of Demerara that excludes many other areas,” Ramotar said.
He stated that this is a big jump since from 2004 to 2011; government invested some Gy$ 1.38 billion. Ramotar said the project is yet another initiative by government to fulfil its 2011 manifesto promises.
He highlighted that in the manifesto, the administration had promised that it would deliver 30,000 houselots to Guyanese by 2016.
Exceeding target
“Last year in pursuit of that goal, the Central Housing and Planning Authority delivered some 7940 lots… they exceeded their target by 22 per cent… the target for last year was 6500 lots, and they also managed to process 4177, titles, which is a 12 per cent increase of the target of 4000 that they had.”
Ramotar said too that the administration has delivered on its promise to make access to finance affordable, citing government’s support of low-income housing programmes under which tax incentives are given to the banking sector to promote lending for homeowners.
In the same breath, he added that the government will continue to work with stakeholders to further improve access to financing specifically for the construction sector.
Meanwhile, Finance Minister Dr Ashni Singh said the national housing programme is an outstanding example of public policy, private sector response and household effort being brought together to develop and transform the country.
He also echoed similar sentiments as the president, stating that the government is on a vertical move to ensure that the financial sector is prepared and enthusiastic about lending for homeownership, as it is important.

Low interest rate
He said due to this, banks are able to offer lower interest rates to borrowers and potential borrowers for low-income housing developments, as a result of which millions of dollars are lent to thousands of Guyanese at subsidised rate, which they then in turn use to build their homes.
He stated that the low-income window alone has seen billions of dollars injected into the Guyanese economy.
“In the first quarter of this year alone, 366 persons accessed this facility and a total of Gy$ 690 million was disbursed under this facility alone… accumulatively at the end of March, there were 3408 borrowers from the financial system… the total amount disbursed by the banking system was Gy$ 9.3 billion,”Dr Singh said.
The finance minister added that building homes does not disappear into thin air but rather it purchases construction materials, from the business community and creates jobs, thus creating a multiplier effect.
The New Perseverance Scheme is located on East Bank Demerara, five miles from the city and will be available in two designs: low and moderate income.
The initiative was launched under the theme “Transforming the dream of homeownership into a reality: Home ownership made easier”. Within six months, the area is expected to be transformed with 1000 homes, adding to the “turn key” initiative which started in 2011, to boost the housing sector. The New Building Society has been a key partner since then.

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By: Michael Younge -

All of the available space for the fourth staging of the International Building Exposition has already been occupied by new and old businesses, as well as exhibitors, even though the event is slated to be staged until next month.
This has forced the Housing and Water Ministry and the Central Housing and Planning Authority (CHPA) to resort to make alternative arrangements to accommodate another 20 exhibitors in light of what is being dubbed an “unprecedented wave of interest” in the event compared with previous years.

Housing Minister Irfaan Ali

Housing Minister Irfaan Ali has since confirmed that the Building Exposition Committee is working feverishly to ensure that it identifies other parts of the Guyana National Stadium, which can be utilised to house more exhibitors who are still expressing interest in being part of this year’s event.
“I am heartened by the response from the private sector and several other businesses, both small and large scale that are part of the construction and building sectors,” said Minister Ali. “This unprecedented response, I dare say, is a signal of the confidence that our private sector and corporate partners have in the building exposition, which aims at creating an environment where new products, innovations and initiatives can take centre stage for businesses in the booming construction sector.”
Value added products
Minister Ali said he has advised the team to ensure that it dedicates a significant amount of its energies toward making provisions for new and existing exhibitors that show high levels of promise and interest in bringing value-added products and services to consumers in the construction sector.
The minister is so far satisfied with the pace at which preparations for the Caribbean’s largest construction expo is progressing, explaining that thus far a lot has been accomplished. He is adamant that the building expo is both “special” and “more promising” this year, when compared with previous years, noting that Guyanese will undoubtedly benefit from a wide array of deals and partnerships which could result in positive spill-over effects for entire households.
The minister strongly believes that the exposition this year will feature the creativity of key players in the building and construction sectors as far as making the construction of low-income homes affordable is concerned.
Home ownership
Minister Ali said other offers and deals for new and existing homeowners can only be accessed at the exposition, and he encouraged Guyanese to exploit the benefits of an exposition of this magnitude. He said the team is already hard at work on executing the vision of the construction of the new “Silica City”, which is to be the main feature at Building Expo 4.
Ali said the ministry is involved in futuristic macroeconomic planning, aimed at creating sustainable development, especially where it relates to meeting the growing demand for affordable housing.
Job creation
“The right vision, the will, the commitment of a team, and strong partnerships with the private sector will continue to result in the execution of successful building expos. Our government is humbled by the transformation taking place in our economy and for us, this is our ultimate goal,” Ali concluded.
He said that this year’s international building expo is occurring at a time when expansion was engulfing the construction and building sector, which is responsible for the provision of jobs for thousands of Guyanese and hundreds of youths.
The International Building Expo was officially launched in July 2010 under the presidency of Bharrat Jagdeo, at the Princess International Hotel, Providence, East Bank Demerara. The first expo was held in August that year at the Guyana National Stadium.
The expo was launched as a direct response to the growing demand in the building and construction sectors. It is a unique partnership involving the Housing and Water Ministry, the CHPA and the private sector.

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By Svetlana Marshall -

Out of a total 145 child abuse cases handed over to the police by the Child Care and Protection Agency (CCPA), only five persons have been charged. A lack of cooperation from victims coupled with difficulty in finding some of the suspects have contributed to the remaining 140 reports being outstanding.
Reports emanating from the CCPA indicate that from a total of 1039 cases of child abuse, 137 are sexual abuse cases with 120 girls being victims. Human Services Minister Jenifer Webster had disclosed that 69 boys were physically abused, 195 neglected and 12 witnessed instances of abuse while 72 girls were physically abused, 30 verbally abused, 211 neglected, 18 abandoned and 15 witnessed abuse.
During an exclusive interview with Guyana Times International, CCPA Director Ann Greene said from 1039 cases reported; 145 were handed over to the police, but only five of those cases have been prosecuted.
She explained that the majority of the cases handed down to the Guyana Police Force were sexual in nature while a few included physical and verbal abuses based on the severity of the matter.
Asked why only five persons have been charged, from a total of 145 cases being investigated by the police, Greene said there are several factors hindering the process.
Instructed silence
While the cases have been indentified, Greene said some of the perpetrators are yet to be identified by the victims and other family members while some perpetrators cannot be found, thereby stalling the process. “Lack of cooperation is a major problem,” she lamented.
Victims of abuse, in particular victims of sexual abuse do not speak for several reasons, she added. It was pointed out that some children do not speak out because some of them are threatened by the perpetrators and rejected by their parents, relatives or loved ones. In other cases, “children are taught to obey parents or adults, the abusers’ strategies to bribe the children may also serve to silence them and sometimes the abusive experience may be all the children receive to respond to their need to be held and cuddled.”
Critical information
For years, the CCPA has been grappling with this situation where victims, parents or relatives are withholding critical information which can result in perpetrators being placed behind bars.
In addition to sexual abuse, the issues of verbal and physical abuse, neglect and abandonment continue to capture the attention of the protection agency.
Greene said unlike sexual abuse and severe cases of physical abuse, the agency is working with persons who may have physically and verbally abused children or have neglected or abandoned them in one way or the other.
Through counselling, the protection agency is trying to assist parents in finding alternative ways to punish their children without using corporal punishment, which can lead to injuries. “There is still the culture of beating children and it will take some time before we can get parents to stop, but we are working with them by promoting discipline without beating.”
The director alluded to the “time out” mechanism, whether children are banned from participating in recreational activities they enjoy, such as watching television or playing games.
This method, Greene said, has proven to be successful not only in Guyana, but in other parts of the world.

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By Svetlana Marshall -

The Guyana Bank for Trade and Industry (GBTI) has recorded an aftertax profit of Gy$ 1.814 billion in 2012, representing a 32 per cent increase when compared to the bank’s returns for 2011.
GBTI Chief Executive Officer John Tracey made this disclosure in the bank’s 2012 report. He said the return on equity stood at 20.17 per cent at the end of the year, while the return on average assets stood at 2.23 per cent.
Revenues for 2012 amounted to Gy$ 5524 million, an increase of 21 per cent over that for 2011, due primarily to increased lending. Net interest income increased by 33 per cent while non-interest income increased by 19 per cent due to the increases in commissions and exchanging gains, he revealed.

GBTI Chief Executive Officer John Tracey

On the flip side, the bank incurred an expenditure of Gy$ 2.972 billion, an increase of Gy$ 385 million.
GBTI’s overwhelming success was driven by the growth in its loan portfolio, the CEO said. He explained that loans stood at Gy$ 35 billion at the end of 2013, reflecting a net growth of Gy$ 11.3 billion or 46.8 per cent.
Currently, the bank owns a whopping 22 per cent of the loan portfolio in the banking industry.
The bank’s credit to deposit ratio increased to 45 per cent in 2012 compared to 40 per cent at the end of 2011, Tracey reported.
The growth in the loan portfolio was attributed to the improved and diverse loan system. In an effort to increase its portfolio, GBTI tailored its lending policies based on development in the various economic sectors in Guyana.
Customer service, expansion
Turning his attention to customer service and branch expansion, Tracey said despite minor hiccups during the implementation stage of the software upgrade, GBTI undoubtedly maintains an excellent record of customer service.
As part of its expansion project, GBTI continues to increase the number of Automated Teller Machines (ATMs) and Point of Sale Terminals in critical areas. The relocation of the GBTI branch in Lethem in 2012 was done with the aim of providing a full suite of banking services in a more spacious and convenient environment.
In 2012, the bank upheld its record on supporting community projects and programmes by sponsoring the Children’s Dramatic Poetry Competition which was part of the country’s 42nd Mashramani activities.
A show of the work of Guyana Women Artists Association was also facilitated by the bank in February. Groups of Early Savers were also treated to sessions of fun, games, and learning at the National Museum in the months of May and July as part of GBTI’s first story-telling and literature venture.
These are just a few of the many initiatives undertaken by the bank in support of civil society.
Looking ahead
As 2013 progresses, the CEO expressed concern over the high levels of uncertainty in some sectors.
“Two of the leading production sectors and significant foreign exchange earners -rice and gold mining are facing uncertain futures,” Tracey pointed out in his report.
According to him, the heavy dependency on the Venezuela market for the sale of rice is also worrying, noting that the loss of this market can cripple the rice sector.
“The sugar industry continues to limp along, but, with favourable weather and improved technical and mechanical competence, it should do no worse than done in 2012.”
Amid the signs of uncertainty, Tracey said bankers were optimistic that the banking industry will continue to flourish. He said that with competition for less lending opportunities, it is anticipated that the trend of the reduction of interest rates will continue this year.
Additionally, the bank will be commissioning another branch this year, while assessing the possibility of greater expansion in the future.

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