Loan requests ‘increasing’
PA Wellington The National Provident Fund may have to restrict lending if demand for loans by local authorities continues to rise.
The superintendent of the fund, Mr John Gyles, however, said that no problem was expected this financial year.
Commenting on reports that.local bodies were having trouble raising funds to finance capital works, Mr Gyles said the fund was the biggest lender to local authorities and was the only institution lending them sig-
nificant amounts. . “Consequently, requests to the fund for loan money are increasing quite markedly,” he said. “The fund has advised local authorities that if this position continues it will not have the resources to meet the requirements of all local authorities.
“It suggested that if this situation arises it may have to restrict its lending and indicated that this may have to be done by lending only for committed works and not for new works not begun.” Mr Gyles said that this position had nof arisen.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19811221.2.96
Bibliographic details
Press, 21 December 1981, Page 18
Word Count
162Loan requests ‘increasing’ Press, 21 December 1981, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.