155 people assisted under the FNPF Home Loan Assistance program

Attorney General Aiyaz Sayed-Khaiyum says as of Monday the Fiji National Provident Fund has received 275 applications for home assistance under the Home Loan Assistance.

Sayed-Khaiyum says they have paid out 155 applications totaling $1.64 million.

He says 70 percent of these were from members preserved accounts.

The Attorney General adds out of the 155 applications, 13 were from Housing Authority, 52 from BSP, 21 from HFC, 39 from Westpac, 29 from ANZ and 1 from Bred Bank.

Sayed-Khaiyum says due to the recent lockdown, the FNPF Board is considering extending the deadline for applications which is due to close this month.

He adds FNPF has dedicated a team to assist members who wish to apply for the assistance.

SODELPA Whip Lynda Tabuya has also questioned Sayed-Khaiyum if the government can get involved to negotiate with the banks to reduce the interest rates on payment which is still too high.

Tabuya says there is a flow-on effect on landlords who have rentals and they use these rentals to help repay their mortgages.

She says most people cannot pay their rent at the moment because of the situation we are in.

Sayed-Khaiyum says this is a very dangerous thought because we can have enormous consequences if we artificially interfere with the market.

He says it will create financial instability if government interferes with the financial system.

Sayed-Khaiyum adds we cannot do that.