NextGen Day

On Thursday, the Home Development Mutual Fund (Pag-IBIG Fund) reaffirmed its commitment to the Pambansang Pabahay para sa Pilipino Program of the Marcos administration.

The state housing agency is making enough money, according to Pag-IBIG Department Manager for Public Media Affairs Jack Jacinto, to ensure that it will receive its PHP250 billion budget for the program.

We are now inviting our local government units (LGUs) and the accredited developers of the Pag-IBIG Fund to submit applications for this program in order to construct housing units for the fund’s members.

The allotment of PHP250 billion for the flagship housing initiative of the Marcos administration was approved on Monday by the Pag-IBIG Board, which is presided over by Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD).

According to Acuzar, the sum will contribute to the achievement of the President’s pledge to construct 6 million housing units during the course of his six-year presidency.

This is a significant boost for the Pambansang Pabahay para sa Pilipino Program, according to Acuzar, and represents a major step in fulfilling the aspiration of every Filipino family to live in a quality, secure, and cheap home.

Jacinto, on the other hand, emphasized that Pag-IBIG works to construct at least 708,000 housing units and reaffirmed their commitment to tackling the housing shortage.

“At the program’s tulong, we are currently nakikipag-ugnayan nang masusi sa DHSUD. We are collaborating effectively with the DHSUD thanks to this program. Ibabalangkas po kasi nila iyon pong ceiling para po sa pagdetermina ng mga uri po ng housing units – socialized and economical housing units. Because they are preparing the ceiling to establish the categories of socialized and economically disadvantaged housing units that are eligible for our subsidies, Jacinto explained.

According to Jacinto, the organization has already consulted with employers, organized groups, and local government agencies to ascertain their housing needs.

He added that as of October, they had been successful in collecting PHP56 billion in housing loans.

This is significant because it shows that the Pag-IBIG Fund money is being managed effectively and efficiently, he said.

Jacinto pointed out that because current borrowers are dutifully making their mortgage payments, they are able to offer lending services to new applicants.

According to Jacinto, the fund currently has assets worth over PHP800 billion and generated a net income of PHP38 billion in October.

“It’s a very good indicator because the success of the Pag-IBIG Fund is the success of its members,” he asserted. “Napakaganda pong senyales sapagkat ang tagumpay ng Pag-IBIG Fund ay tagumpay ng miyembro.”

About 15 million users, according to Jacinto, are actively repaying their debts, which has led to a record collection of PHP66.66 billion.

This simply demonstrated how fully trusted we are by our members, he claimed.

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