PNG Ports Corporation is embarking on an ambitious drive to deliver a home to every employee in the company.
This follows the introduction of a Home Ownership Policy signed off by Acting Managing Director, Stanley Alphonse, this week.
The policy paves the way for a home ownership scheme for all employees working at PNG Ports headquarters in across its network of ports in PNG.
“We will deliver a home to every employee in this company. I personally will make sure of that,” says Acting Managing Director, Stanley Alphonse in a statement.
PNG Ports will provide 20 percent of the total cost or value of either an existing residential property being purchased or a new residential building being constructed, inclusive of the vacant land.
The 20 percent can be used as equity to apply for loans under the Bank of South Pacific’s First Home Ownership Scheme loan, which staff can either choose to build or buy a house at their port of work or in their home provinces.
Alphonse said with the Home Ownership Scheme, staff could live and go to work in the comfort of their own homes and improve their productivity at work.
“PNG Ports is aware of the challenges of high rental accommodation as well as shortages of quality and affordable residential housing for employees,” said Alphonse.
“These challenges and shortages do have an unfavorable impact on its own employees in terms of work performance and life generally with their families.”
The Scheme is also part of the company’s plan to retain best employees as well as empower them.
Creative Designer, Michael Rengis, whose been with PNG Ports for five years, thanked the company for the benefit and for allocating the 20 percent which he would use as his equity to obtain a loan.
Loop file picture (Picture by Cedric Patjole)