Nothing testifies more about the rock solid status of the National Housing Trust (NHT) than its survival unscathed for 50 years, despite the love of politicians to change the name or nature of State institutions to put their personal imprimatur on them.

And even yesterday’s complaint by the Opposition People’s National Party (PNP) that the Trust has lost its way is not likely to gain any traction, because the party, only two days before, had betrayed its paternal pride about the NHT in a statement emanating from its National Executive Council (NEC) Sunday.

“The PNP recognises and celebrates with immense pride and joy this milestone occasion of the 50th anniversary of the establishment of the National Housing Trust (NHT). Born out of the vision of former Prime Minister the Most Hon Michael Manley in January 1976, the NHT led the transformation and modernisation of Jamaica’s housing stock,” the party understandably trumpeted from its Hatfield, Manchester, meeting.

It would appear that the PNP has beaten the NHT to the punch in reminding the nation that the institution is this year marking its 50th anniversary of operations — a not insignificant event that every Jamaican can be proud of and wish to celebrate with bashment-style energy, colour, and panache.

The Trust might have been slow out of the blocks at the start of a new year, so we expect that the nation will be hearing a lot from them that could give insight into how that organisation has survived the vicissitudes of the two major political parties for as many as five decades.

Of course, the NHT thrives on its core mandate of lending money at low interest rates to contributors who wish to build, buy, or repair/improve their houses, or who wish to buy or build on lots. It also develops housing schemes for sale to contributors and provides low-cost financing to private developers.

As we have said before in this space, the Trust gains its superpower from not having to fend for itself and battle through the uncertainties of financial markets, because of its ability to amass money through compulsory statutory deductions.

The PNP’s statement yesterday, which seems to have been left off of its Sunday tribute, cautioned the Government about depleting the Trust’s financial resources by extending “the annual extraction of $11.4 billion for budgetary support”.

The party might wish to recall the $4-billion first ‘borrowed’ by the Portia Simpson Miller Administration, setting the example for the succeeding Bruce Golding Government to raid the NHT for a similar $4 billion.

Depletion of resources is not an issue for the NHT. If anything, it’s not spending enough on providing housing for the people.

By Finance Ministry statistics, the Trust collected $43 billion in income and spent $13 billion in operating expenses for the financial year ending 2024, showing that administrative costs amounted to, on average, $6 million per unit completion.

Still, the NHT has granted over 228,700 mortgages since its inception, compared with 196 mortgages in 1976, and, as a share of market, it provides roughly 60 per cent of all mortgages in Jamaica.

We suggested before, and do so again, that as part of the 50th anniversary celebrations, the Government considers stepping up contribution refunds. NHT contributors may well not need to be owed any more than one year’s money at any time.