Khaberni - Economic expert Ibrahim Al-Khasawneh responded to statements made by the head of the Social Security Investment Fund, Azzaldeen Kanakriya, who stated that the government has never faltered in repaying its debt to social security.
Al-Khasawneh confirmed that the government did falter in repaying the Public Housing Institution's loan to social security for 1002 days, with a daily penalty imposed by social security amounting to 10,000 Jordanian dinars because the total loan value of 100 million was not fully utilized and only 47 million was used.
He explained that the Kareem Housing project, when announced, aimed to build 100,000 residential units at affordable prices for low-income citizens, and an amount of 240 million was allocated to start implementing the project, part of which was a loan from the Social Security Investment Unit valued at 100 million.
He pointed out that after the project commenced and royal lands were allocated for it, signs of the project's failure emerged, leading to a reduction in the number of residential units from 100,000 to 20,000 units.
He added: Only 8,448 units were built at a cost of 316 million dinars at a cost of 265 Jordanian dinars per square meter between 2008 - 2011. The construction cost was "turnkey super deluxe" at 100 - 120 dinars, noting that the land was entirely free and some of the infrastructure costs were borne by the municipalities in the included areas.
