17.6 C
Kenya
Friday, November 22, 2019
  • REAL ESTATE

We’ll cut salaries to fund Uhuru houses whether Kenyans like it or not – PS

Must Read

How Syombua and her kids were brutally murdered at Nanyuki airbase

Syombua Killed: On October 27, Joyce Syombua and her two kids disappeared after visiting her estranged husband Major Peter...

There are three ways to go broke: ‘liquor, ladies and leverage’ – Warren Buffett

Warren Buffett Quotes: Warren Buffett believes investors should avoid using borrowed money to buy stocks. "It is crazy in my...

Silverstone has been making Sh. 10 million loss daily

Silverstone Planes: This week, Silverstone Air announced that it had sent its pilots and all crew members packing. The...

Housing Fund Levy: A shocking revelation on how houses under the big four agenda will be allocated has emerged. Apparently, the houses will be given out to Kenyans through a lottery system.

This shocking revelation was made by the principal secretary for Housing, Charles Hinga. The lottery system will be effected despite the government compelling all employees in the country to contribute to the housing fund.

President Uhuru Kenyatta is seeking to build half a million houses within the next three years in a project that is largely seen as a pipeline.

To enable this construction,

the Jubilee administration will deduct 1.5 percent from about three million salaried employees.

“One has to register besides contributing before a house is allocated to them. A lottery system will be used to determine who gets a house,” said Mr. Hinga. He also said that the contribution will be compulsory being funded through a Public-Private Partnership, which requires an assurance of continuous cash flow.

In what is being seen as an act of arrogance, the PS said that Kenyans will have to pay for the fund whether they like it or not, since they elected the Jubilee government.

“The fact that you elected them, you knew that they made a commitment and so they have got to fulfill it,” he said. Asked why the government wants to force even people who already own houses, or those who have taken mortgages, Mr. Hinga said they can as well bequeath their units to their servants or relatives.

“The housing fund levy is a contribution because if you do not get a house, you can assign your contribution to your son, daughter or relative. It gives you a direct benefit which a tax doesn’t,” said Mr. Hinga.

- Advertisement -

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

126,658FansLike
11,106FollowersFollow
7,696FollowersFollow
195SubscribersSubscribe

Latest News

Silverstone has been making Sh. 10 million loss daily

Silverstone Planes: This week, Silverstone Air announced that it had sent its pilots and all crew members packing. The...

There are three ways to go broke: ‘liquor, ladies and leverage’ – Warren Buffett

Warren Buffett Quotes: Warren Buffett believes investors should avoid using borrowed money to buy stocks. "It is crazy in my view to borrow money on...

Silverstone has been making Sh. 10 million loss daily

Silverstone Planes: This week, Silverstone Air announced that it had sent its pilots and all crew members packing. The low-cost carrier also announced that...

Why startups need an anchor as they pursue disruption

Why startups need an anchor as they pursue disruption This year, capital raise announcements have come in hard and fast. Maxime Bayen of Greentec Capital...

4 things to consider when changing your car paint

Changing Car Paint: If you want create a new look for your vehicle, then changing the car paint color can help you do just...

More Articles Like This

- Advertisement -
%d bloggers like this: