NASSAU, The Bahamas — The government has reaffirmed its commitment to a mortgage relief programme that will help save the homes of persons who are no longer able to service their loan obligations, because of underemployed, involuntary loss of jobs, or because of chronic illness.
Prime Minister Perry Gladstone Christie during the presentation of the 2012/2013 Budget Communication in Parliament on Wednesday said preliminary discussions with representatives of the clearing banks and other institutional lenders have already been initiated.
He said the discussions would continue with a view to arriving at a mortgage relief programme in the shortest possible time.
“In the meantime, we wish to reiterate that the programme was never intended to assist homeowners who have the means to pay their mortgage obligations but simply decided not to do so,” Prime Minister Christie stressed.
“We therefore urge all homeowners who have the means to do so, to continue to meet their mortgage obligations as and when they are due.”
He also noted that the first draft of a Bill to administer and regulate Pension Funds is now complete and will be presented to Parliament shortly.
“As was stated from the Speech from the Throne, we will ensure that employees have access to their pension savings for emergency purposes, including mortgage relief.
“We will do so within the broader context of the revised Bill to which I have just referred,” the Prime Minister said.
Renewed commitment to National Health Insurance
Prime Minister Christie said the government’s commitment to National Health Insurance remains solid and the government will pursue preparations for the financially sustainable implementation of such a plan.
He said the government is also allocating funds to the Public Hospitals Authority to facilitate the acquisition of new cancer screening technology to ensure all Bahamian women have access to state-of-the-art mammogram machines at both the Princess Margaret Hospital and Rand Memorial Hospital.
By Llonella Gilbert
Bahamas Information Services
