NHDA to recover housing loans amounting to Rs.10 billion since 1979

20 August 2022 12:00 am Views - 193

• Only Rs. 127 million was collected in July this year though the amount that was to be collected was Rs. 563 million
• All financial resources exhausted for loans between 2015 and 2019  

 By Yohan Perera   

The National Housing Development Authority (NHDA) has failed to recover loans amounting to Rs.10 billion since 1979, a statement from the Housing Ministry said.  

This was revealed at a convention of NHDA district officers held in Kandy yesterday. 
Only Rs. 127 million was collected in July this year though the amount that was to be collected was Rs. 563 million.   

Minister of Housing and Development Prasanna Ranatunga who was the Chief Guest at the convention said NHDA should target to recover Rs. 300 million this year.   

The loan recovery rate of NHDA has been found to be only 23 percent. It has also been revealed that recovery of loans that were granted between 2015 and 2019 has become problematic. The statement said loans had been issued during this period exhausting all the financial resources. 

 

• Loan recovery rate of NHDA has been found to be only 23 percent
• Recovery of loans that were granted between 2015 and 2019 has become problematic