Calling for an appropriate solution regarding issues plaguing the Housing Finance Corporation (HFC), Sek trade union on Wednesday said the government should be doubly worried that the organisation remains “dangerously headless.”

In an announcement, said that the HFC, for a host of reasons, has neither a general director nor a board of directors as the latter has difficulties in coming together due to its problematic composition, while the general director’s position has remained vacant since the previous holder retired about a year ago.

The announcement highlights that these were pointed out last July at the House audit committee but “the situation… remains as it was to this day,” the union said.

“Unfortunately, things are not going well. A state organisation cannot be left without an administration. It is unacceptable and dangerous and creates serious problems in the seamless financing in acquiring a home,” it added.

Sek called on the government and especially Finance Minister Constantinos Petrides to provide an appropriate solution.

“[Petrides] because of the portfolio he holds, has the political responsibility for the proper operation of the HFC, should be doubly worried, and in cooperation with the Central Bank’s Governor Constantinos Herodotou provide the appropriate solution,” the union said.

Sek further noted that the HFC from its founding was set to serve the seamless financing of private housing especially for the vulnerable “who did not want to find themselves in the tentacles of a commercial bank.

“Unfortunately, today, with the tolerance exhibited by the government and the suspicious silence from all political forces, HFC has started to lose its human-centred identity with whatever that entails for the vulnerable and especially the young who see their dream of owning a house become an illusion,” it said.

Additionally, Sek said that it will “be neither silent nor indifferent to the issues of HFC for which there are serious political responsibilities.”

Concluding, the announcement questioned as to whether the House audit committee still has a role to play.