August 2, 2011

The Chairman of the Parliamentary Committee on Water Resources Works and Housing, Hon. David Tetteh Assumeng has dispelled fears that the STX housing deal is in limbo and likely to fail as predicted by the minority.

The New Statesman Newspaper on Tuesday August 1, reported that seven months after the flamboyant sod-cutting ceremony by President Mills for the commencement of the proposed construction of 30,000 housing units for security personnel in the country and coupled with the prediction by the Minister of Water Resources, Works and Housing, Alban Bagbin, that physical houses will be seen sprawling at the various sites by July, not even a single block has been laid on the site for the STX housing project to take off.

The STX deal, is for the construction of 200,000 houses in Ghana within a period of five years.

The Government of Ghana is to acquire ninety thousand (90,000) units of the houses representing 45% of the housing project. Out of the 90,000 units, 30,000 units would go to the security agencies with the remaining one hundred and ten thousand (110,000) housing being operated by Home Finance Corporation.

Gabby Otchere Darko, Executive Director of the Danquah Institute told Citi Eyewitness News on Monday August 1, that the failure of the NDC government to commence work on the STX housing deal clearly vindicates the position held by the Minority that the deal is fraudulent and a bad one for the country.

According to him, no financial institution is willing to finance the housing project because the STX deal is not worth it. He also argued that the cost of $50,000 per house is very expensive and would be very difficult for Ghanaians to purchase the building even if the government manages to complete the housing project.

However, in a response, Hon. David Tetteh Assuming said everything is on course for the commencement of the project. He said Government is treading cautiously to ensure that it goes through the necessary processes to ensure a smooth take off of the project.

He denied allegations by Gabby Otchere Darko that there is no money to fund the project saying funds have already been sourced for the commencement of the programme and he is optimistic that Housing project will take off very soon.