The Housing Authority (HA) has confirmed it has not received any reports of fuel hoarding by its tenants, but said it acted early this week to warn homeowners after a series of panic-buying incidents around the country. The cautionary statement, released on Monday, was framed as a precaution by the lender to protect vulnerable borrowers and to remind mortgagors of insurance limits and safety requirements.
“We have not recorded any cases of fuel hoarding among our tenants,” HA chief executive officer Isikeli Navuda told this newspaper. “Our home loan customers, many of whom are low- to middle-income earners, may face greater vulnerabilities. We believe it is sensible to adopt precautionary measures; it is better to be prepared than to take unnecessary risks.”
In its Monday release, the Authority urged homeowners with mortgaged properties covered under its Group Property Insurance policy to follow strict safety guidelines when storing any fuel on their premises. The statement stressed that insurance coverage under the group policy is intended for normal household use and does not extend to properties where fuel is stored in excessive quantities beyond what is reasonably required for everyday domestic purposes.
HA warned explicitly that insurance claims could be rejected if excessive fuel storage contributes to damage or loss. The reminder seeks to make clear both the safety and financial consequences of storing large volumes of diesel, petrol or LPG at home should a fire, spill or other incident occur.
The Authority’s advisory comes amid heightened public concern about fuel availability and price volatility driven by international events. Government and industry warnings in recent weeks have flagged the potential for rising local fuel and food costs, and some transport operators have already announced operational adjustments due to constrained supplies. Those developments prompted episodes of panic buying in some communities, which the HA cited as the reason for its proactive guidance.
Navuda framed the HA’s move as part of its responsibilities as a lender to safeguard borrowers’ assets and livelihoods. Beyond insurance implications, the Authority’s statement implicitly sought to discourage behaviour that could increase safety risks or financial exposure for low- and middle-income homeowners already managing mortgage repayments.
The Housing Authority said it will continue to monitor the situation and to work with customers to promote safe practices. For now, HA records show no tenancy-level hoarding complaints, but the organisation urged all homeowners to adhere to recommended storage limits and to prioritise safety while authorities and suppliers track broader market conditions.
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