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(Date Posted:19/03/2009 16:09:18)
Young Mauritians need to be inculcated with a savings culture from an early age, the Vice Prime Minister, Minister of Finance and Economic Empowerment, Dr. Rama Sithanen, G.C.S.K said on March 18 while launching the Junior PEL Saver at the headquarters of Mauritius Housing Company (MHC) in Port Louis. The PEL (plan Epargne Logement) is a savings scheme against which depositors can secure housing loans from the MHC.
Minister Sithanen welcomed the Junior PEL Saver, which he qualified as being an innovative scheme. He underlined the crucial role played by the MHC over the last 45 years in helping Mauritians from the middle class and vulnerable groups of the society to become owners of their own house. He reiterated the support of the government to the MHC and made a plea to those who owe the company to pay back as this money will be invested in projects for the benefit of Mauritians themselves.
The Vice Prime Minister also expressed his concerns about the world economic crisis and pointed out the various measures undertaken by the Government to control and mitigate its effects. He focused on the efforts undertaken to preserve existing jobs and also on the 15 000 jobs created since August 2007, when the world was entering into an economic crisis.
Mr. M. Seetohul, Managing Director of the MHC, gave an overview of the company’s pivotal role in the housing sector in Mauritius. He called upon the youngsters to learn to save for rainy days and emphasised that Junior PEL Saver is a scheme destined for them to achieve one of the most cherished dreams of many people of owning one’s own house.
To mark the launching of this scheme all those born on the 12th March of this year will be gifted a Junior PEL Saver account of Rs 5 000, added Mr. Seetohul.
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