Embakasi East MP Paul Ongili has vowed to table an amendment bill in Parliament that seeks to entrust the private sector and banks with the construction of affordable houses in the country.
The legislator popularly known as Babu Owino said he will be "moving an amendment to the Finance Bill in parliament that shall give financial institutions tax concessions for profits generated from construction loans."
He said the amendment will give the banks confidence and trust to allocate more funds for construction loans adding that the national government should follow suit and allocate funds for housing.
"This will encourage banks to allocate more money to construction loans. The National Government should follow suit and develop other innovative initiatives that will encourage the private sector to invest in this area," he further said.
He, however, requested the employees and employers' unions to be patient as he consults with CS James Macharia.
"Pending further consultations with the CS for Housing Mr. James Macharia on how this will be done, I will support the court action by the Federation of Kenya Employers to suspend the levy," he added
The government's notice to all employers to start the deduction of 1.5% of their salary for the housing levy fund has drawn sharp criticism.
ANC party leader Musalia Mudavadi has since asked the government to explore other options to fund the housing program such as using proceeds from corruption.