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Government officials plan to lower state mortgage interest rate to 6%

«Since we adopted the Affordable Housing program, we must find the ways to implement it, reducing the lending rate to 6 percent per annum,» the Deputy Prime Minister Zamirbek Askarov said at a meeting of the interdepartmental commission for the coordination of the state housing program issues.

The Chairman of the Board of the State Mortgage Company Baktybek Shamkeev informed about the implementation of Affordable Housing program. Zamirbek Askarov was dissatisfied with the report. He noted that the State Mortgage Company bought housing for $ 658 (4,739 soms) per square meter. At the same time, there are construction companies that commission housing for $ 350-360, paying a tax of 2,080 soms per square meter.

«The Affordable Housing program was adopted to provide people with housing. But the mortgage company sells the apartments at a market price. Naturally, doctors and teachers will not be able to buy a new apartment on these terms. Since we adopted the program, we must find ways to implement it, lowering the lending rate to 6 percent per annum,» Zamirbek Askarov stressed.

Participants of the meeting found out that the State Mortgage Company might annually increase its authorized capital by 150 million soms through issue of ordinary registered shares. As a result, it was decided to prepare a prospectus for the issue of ordinary registered shares to ensure the capitalization of the State Mortgage Company.

In addition, the participants of the meeting raised the issue of development of a new criteria for labor migrants, who want to participate in the Affordable Housing program, as well as the possibility of introducing an electronic system for collecting necessary documents for those, who want to buy housing on preferential terms.