According to the president, the main goal of the mortgage company is to increase the housing stock of the country.
“Previously, all funds came exclusively from the state budget. Currently, the company's capital is formed through state funding and profits earned, amounting to 87 billion soms. This year we will allocate about $500 million to the Mortgage Company for the last time; starting next year, budget funding will cease,” he noted.
The president also announced plans to increase the company's charter capital to 200 billion soms.
“With such a charter capital of 200 billion soms, the state company will be able to provide housing for all citizens — from young families to the elderly — not for 5-10 years, but for a period of 50 to 100 years. Since this is a completely state-owned enterprise, all profits return to the state budget, or rather — to the company's accounts. The larger the capital of the mortgage company, the faster our citizens will be able to access housing,” Sadyr Japarov concluded.
