MANILA – The Home Development Mutual Fund (Pag-IBIG Fund) on Thursday assured that it is fully capable of supporting the Marcos administration’s Pambansang Pabahay para sa Pilipino Program.
In a Laging Handa briefing, Pag-IBIG Department Manager for Public Media Affairs Jack Jacinto said the state housing agency is earning enough profits to guarantee its PHP250 billion allocation for the program.
“Sa ngayon po atin pong inaanyayahan ang ating mga local government units, iyon pong mga accredited developers din po ng Pag-IBIG Fund na sila ay maaari pong mag-apply sa programang ito upang makapagpatayo ng mga housing units para po sa mga miyembro ng Pag-IBIG Fund na siyang makikinabang po (We are now inviting our local government units (LGUs)as wells as the accredited developers of Pag-IBIG Fund to apply for this program in order to build housing units for the its members,” Jacinto said.
The Pag-IBIG Board headed by Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD) on Monday approved the allocation of PHP250 billion for the Marcos administration's flagship housing program.
The amount, according to Acuzar, will help ensure the accomplishment of the President's commitment to building 6 million housing units in six years of his term as the country’s Chief Executive.
"This is a huge boost to our President’s Pambansang Pabahay para sa Pilipino Program --a giant step towards realizing the dream of every Filipino family to have decent, safe and affordable shelters," Acuzar said.
Jacinto, meanwhile, said Pag-IBIG is committed to addressing housing backlogs, stressing that they try to build at least 708,000 housing units.
“At sa tulong po ng programang ito, kami po ay nakikipag-ugnayan nang masusi sa DHSUD. Ibabalangkas po kasi nila iyon pong ceiling para po sa pagdetermina ng mga uri po ng housing units – socialized and economic housing units na syang paglalaanan po ng ating pondo (And with the help of this program, we are coordinating well with the DHSUD. Because they are making preparations for the ceiling to determine the type of housing units – socialized and economic housing units that entitle our funds,” Jacinto explained.
Jacinto said the agency has already been working with local government units, employers and organized groups to determine their housing needs.
He also said they were able to collect PHP56 billion in housing loans as of October.
“This matters because it means that we are running the budget of the Pag-IBIG Fund properly and orderly," he said.
Jacinto noted that they are able to provide loan services to new applicants as old borrowers continue to diligently pay their housing loans.
At present, Jacinto said the fund has over PHP800 billion in assets and earned a net income of PHP38 billion in October.
“Napakaganda pong senyales sapagkat ang tagumpay ng Pag-IBIG Fund ay tagumpay ng miyembro (It’s a very good sign because the success of the Pag-IBIG Fund is the success of its members…,” he claimed.
Jacinto said some 15 million members are actively paying their loans which resulted in a record collection of PHP66.66 billion.
“This only showed that our members have their complete trust in us,” he said. (PNA)