Housing Development Finance Corporation and Customs have signed an MOU to provide assistance in Customs’ plan to build 300 flats for the Department’s staff.
Commissioner General of Customs Abbas Adil Riza stated that the agreement signed today was a step towards achieving this goal. He added that this project will actualize the dreams of many Customs staff. Additionally, this MOU will provide an avenue for Customs to become a more modernized service.
Abbas stated that such remuneration options will discourage employees from acts of corruption and encourage integrity. He added that HDC had already allotted the land for the 300 flats.
Abbas noted that the scheme is split into two phases, out of which one will be focused on providing housing loans at heavily discounted prices and the other is the 300 flats.
He also noted that the scheme will be launched on the 27th of this month and that the first phase of the project can be concluded in the coming year.
He added that the flats will be leased on a set of principles drawn up by Customs staff and the Board. Every flat is estimated to cost around MVR 1.5 million. Customs also informed that the loan repayment will be over 20 years, with the monthly payment due to the Corporation.
HDFC, Customs signs MOU for flats for Customs staff
