Shafaq News- Baghdad
Iraq on Sunday launched a new payment program for constructionmaterials, allowing government employees and pensioners to purchase buildingsupplies through installments spread over 15 months, as authorities move tostimulate housing construction and support household spending.
Known as the “Construction Basket,” the scheme was unveiled by TradeMinister Mustafa Nizar Jumaa during the signing of a cooperation agreementbetween the State Company for Construction Materials Trading (SCCMT) andelectronic payment firm Qi Card.
“The initiative is intended to improve access to construction materialsand accelerate building and reconstruction activity across the country,” heexplained, urging Iraqi banks to join salary domiciliation programs to broadenparticipation and expand eligibility.
Applications will be processed through a dedicated electronic platform,where users will select required construction materials directly via a mobileapplication scheduled for launch in the coming days. Pricing for the materialswill be set by SCCMT, which will also handle supply operations and determineproduct costs.
Iraq has faced a chronic housing shortage for decades, with the Ministryof Construction, Housing and Municipalities estimating a need for about fivemillion additional housing units to meet rising demand. Since 2003, successivegovernments have introduced a series of housing initiatives and large-scaleresidential projects aimed at narrowing the gap, though most have fallen shortof their targets, leaving the crisis largely unresolved.
Earlier this week, Iraqi Prime Minister Ali Al-Zaidi called on businessleaders and companies involved in provincial projects to contribute to thegovernment’s “one-million residential land plot” initiative and supportinfrastructure development.
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