NextGen Day

Wick Veloso, President and General Manager of the Government Service Insurance System (GSIS) announced the implementation of a housing program for members with low incomes or low salary grades on Monday.

Veloso stated that although they are still seeking more sites, they have already discovered one in Fairview, Quezon City.

This is where a condominium unit with a 40-square-meter laki, two toilets, and a bathroom is offered to the public. They now have the opportunity to live under their roof, a 40-square-meter condominium apartment with two bathrooms and toilets. The cost is PHP 12,000 per month. There is no down payment, and they must pay PHP12,000, Veloso stated in an interview with Laging Handa PH Public Briefing.

We discussed it with our team earlier, and we can construct three structures, so “Kanina nag-uusap kami ng team namin.” Therefore, that will be about 600 units,” he continued.

Veloso underlined that in addition to having the right to vote, Filipinos should also be able to live in dignity in their homes.

“We will ensure that all members of the government will have the dignity by giving them the opportunity to own what they can call home,” he said. “Sisiguraduhin po natin lahat po ng miyembro ng gobyerno at ang ating tinatawag na mga kawani ay magkaroon po ng dignidad.”

The housing initiative will be formally unveiled on May 31 as part of the celebration of the state pension fund’s 86th anniversary, according to the GSIS chief.

The Social Security System, Land Bank of the Philippines, Development Bank of the Philippines, Home Development Mutual Fund or Pag-IBIG Fund, and the GSIS signed a memorandum of understanding (MOU) with the Department of Human Settlements and Urban Development last year to assist in the provision of housing for more than six million families nationwide under the Pambansang Pabahay Para sa Pilipino Program.

According to the GSIS, the MOU offers ways for participating government financial institutions to support the government’s housing initiatives by creating or improving their housing programs, building housing projects, and giving both the private sector and government workers the option to acquire ownership or rights to built-in housing units.

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