STATE owned National Housing Corporation (NHC) remains financially stable and capable of offsetting its 249bn/- debt, the National Assembly heard here yesterday.
Winding up the budget estimates for the 2018/2019 financial year, the Deputy Minister for Lands, Housing and Human Settlements Development, Ms Angelina Mabula (pictured) said NHC has a net worth of 2.4tri/-.

The company has a huge net worth capital and could not easily collapse as some quarters suggest...in fact, even members of the Lands, Natural Resources and Tourism Committee,
who had an opportunity to visit various projects under the corporation have realised that the picture that is being painted on the comto come up with the National Housing Policy to create the much needed framework for the housing sector development. “
The process to develop our own housing policy was in advance stage and currently, we are collecting views from stakeholders to come up with proper housing directorate that will support and facilitate the creation of a national and comprehensive pany does not reflect the reality,” she said.
She said the only challenge the company is currently facing was management squabbles and that it was operating without the board of directors, the shortcoming that the government will resolve soon after completion of the requisite vetting procedures.
The deputy minister also directed all councils in the country, which had requested for housing projects through the company to ensure that the completed projects are occupied. “Some councils have neglected NHC houses,
which are left to rot,” she said, lauding Uyuwi District Council as a good example in ensuring that most NHC houses are occupied. She also said that the government was in its advance stage housing policy,” she said.
She further said that the ministry will consider advices from the committee and various MPs to lower premium levy on land survey and issuance of title deeds,
saying the move is essential to address sprawling unplanned settlements in the country by enabling many Tanzanians to own formalised farms and plots. From July 1, last year,
only 2.5 per cent is being charged as premium, down from 7.5 per cent that was initially being charged during the handing over of land ownership as per the Land Act, 1999.
Winding up, Minister William Lukuvi directed NHC management to fulfill the Prime Minister Kassim Majaliwa’s order to meet with Tenants Associationto address their grievances.
“I’m giving a two-week ultimatum, up to June 15, this year, to have convened the meeting and submitting to my office the deliberations of the meeting for further action,” he said.
Earlier, several MPs praised the ministry for cutting down land crisis cases but said there were numbers of shortcomings that still ought to be addressed. Hamidu Bobali (Mchinga— CUF),
Zuberi Kuchauka (Liwale—CUF) and Maftah Nachuma (Mtwara Urban— CUF) all expressed territorial disputes over land in their respective districts, urging the government to solve them quickly.
Nachuma said the government should speed up process to formalise land to curb the problem of unplanned settlements. Nyamagana legislator, Stanislaus Mabula (CCM),
said the government has invested a lot of funds on NHC but expressed his reservation that most projects being carried out by the state owned company have stalled because funds are currently not being released.
The house unanimously endorsed the ministry’s 73bn/- budget for the 2018/2019 fiscal year. The minister told the parliament that 37bn/- will be spent on recurrent expenditures, with 36bn/- on development projects