The government has revealed plans to introduce mortgages for civil servants in a bid to cushion workers from the bumps of life.
The Minister of Public Service, Labour and Social Welfare, Professor Paul Mavima revealed that the government’s long-term plan was to have workers accessing loans under favourable conditions. He said:
Our long-term plans include capacitating the bank to give mortgages. We want civil servants to own houses and such we will partner other relevant ministries for the project.
Professor Mavhima also spoke on the civil servants’ loans under the National Building Society’s Government Employees Mutual Savings Fund. He said:
It is one of the initiatives that was put in place to bail out civil servants from the harsh and exorbitant loan interest fees charged by some microfinance institutions.
The development comes when the government has also been having salary negotiations with workers who complained that their salaries are unsustainable.
Workers’ living conditions have been deteriorating in the past three years as the local currency continued to shed value against other currencies including the United States Dollar.