NAPSA made losses on Kalulushi housing units - minister
By MUKOSELA KASALWE GOVERNMENT will put appropriate measures in place to ensure the National Pension Scheme Authority avoids making losses on houses built for sell.
Labour and Social Security Minister Joyce Simukoko said it was regrettable and unfortunate that the National Pension Scheme Authority had made colossal losses on 438 housing units built in 2010 in Kalulushi District by selling them at a low cost.
Ms Simukoko told Parliament yesterday, that 19 low cost housing units which were constructed at a cost of K399, 808.50 and meant to be sold at K 450,000 were sold at K270, 000 while 88 medium cost housing units meant to be sold at K726, 000 were reduced to K525,000 and 86 high cost housing units priced at K77,100 were sold at K55,000.
She said the prices of sale for the houses were slashed in 2015 due to the challenges that the people of Kalulushi had in terms of finances to buy the houses.
The minister said this in response to a question for oral answer by Luangeni Member of Parliament Charles Zulu.
“Mr Speaker, allow me just to give some detail of how the prices have moved from the time of construction, low cost houses were 19 initial price was K450,000 but due to challenges that the people of Kalulushi faced a reduction was made in 2015 to K270,000 thus NAPSA made a loss of K129,000,” she said.
Ms Simukoko said Government would ensure that NAPSA did not make losses on houses sold by making thorough research of the market.
She said 36 houses would be sold to occupants once they settled rentals owned to NAPSA.
Katombola UPND MP Derrick Livune said it was unfortunate that housing units along Kasangula Road in Lusaka were unoccupied and were being infested by termites.
Wusakile Independent MP Pavyuma Kalobo said more than 3 million Zambians were still in dire need of accommodation and called on the government to reduce the cost of houses sold by NAPSA.