The new housing loan policy for government employees will become effective from July 1
The government has formulated a new policy guideline for providing loans to civil servants through the banking system, keeping in mind the notion that government employees should own an apartment or a house.
Finance Minister AMA Muhith came up with the announcement while delivering his budget speech at the parliament on Thursday, adding that the new policy will become effective from July 1.
He further said: “Under this policy, a public servant will be entitled to a loan for the construction of house or purchase of an apartment anywhere in the country.”
“This loan will be provided to them at a moderate interest rate through the banking system and the interest differential will be paid by the government as subsidy to the commercial banks.”
Muhith added: “I hope this move will motivate the government employees to be more proactive in delivering public services and establishing good governance everywhere.”