Govt. approves sale of KTZ houses to tenants

 

Govt. approves sale of KTZ houses to tenants

Lusaka, June 4, 2013, ZANIS…………..Cabinet has approved the sale of houses to sitting tenants who are former employers of Kafue Textiles of Zambia (KTZ) and further approved the sale of all KTZ commercial properties.

Commenting on the development, Secretary to the Treasury Fredson Yamba said when arriving at the decision, government took into account the fact the most of the former employees of KTZ could not afford the full market price.

ZANIS reports that the minister said this in a statement signed Ministry of Finance Public Relations Officer Chileshe Kandeta , today.

 

The minister said the houses will be sold at the 2006 government valuation prices while the non-housing commercial properties will be sold at full market prices.

“At its sitting on 20th May 2013, cabinet spelt out the following key terms for its decision on KTZ houses: That government would transfer the title deeds to eligible sitting tenants only after such sitting tenants have fully paid for the houses.

“ And upon payment of transfer charges; that the commercial property would be advertised and sold at full market prices and that where original sitting tenants or administrators cannot be traced, the affected houses would be reverted to the state,” said Mr. Yamba.

Mr. Yamba has since commended cabinet for showing magnanimity in addressing the plight of the people of Kafue and appealed to
stakeholders to ensure that all procedures as stipulated by relevant  laws are strictly followed.