Pag-IBIG eyes slum dwellers
Through his housing program called Pambansang Pabahay, President Ferdinand Marcos Jr. orders related government agencies to build more condominiums nationwide
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Daily TribuneThrough his housing program called Pambansang Pabahay, President Ferdinand Marcos Jr. orders related government agencies to build more condominiums nationwide
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Pag-IBIG Fund aims to educate more families in informal settlements about savings, mutual funds and house loans to accelerate the Marcos administration's goal of providing decent homes to at least 6.5 million families.
Pag-IBIG Fund chief executive officer Marilene Acosta on Monday said the agency could tap 60 percent to 70 percent of families in informal settlements who belong in the informal work force but whose incomes meet the Pag-IBIG's registration requirement.
"Thirty to forty percent of informal settler families are formally employed and Pag-IBIG members. The others who are informally employed can also be Pag-IBIG members because the law says a worker must earn at least P10,000 a month to be registered with the agency," she said in a media conference at Victorino's Restaurant in Quezon City.
"Let's give it a chance. Let's take the lead," Acosta added.
However, she stressed Pag-IBIG Fund officers and members must help each other to spread proper money management and home care among the informal settler beneficiaries.
Debts should be paid
"But remember that whatever we lend is part of the members' funds so they should be educated on the responsibilities of being a Pag-IBIG member and a homeowner. We don't want their condominiums to be vertical slums," Acosta said.
Through his housing program called Pambansang Pabahay, President Ferdinand Marcos Jr. orders related government agencies to build more condominiums nationwide to accommodate families amid the country's growing population and shrinking land areas for residential purposes.
Acosta said Pag-IBIG remains on track in helping achieve that goal, with P59.52 billion in savings from January to August, 11 percent higher than the level in the same period last year. "We project this will grow to P80 billion by year-end," she said.
MP2 Savings, which is voluntary and has higher returns than the mandatory savings of members, rose to P31.5 billion.
Acosta said MP2 Savings will be the focus of Pag-IBIG as it aims to further boost its funds for home loans and protect its reputation. "We value that number because that is a sign of the trust of our members in Pag-IBIG," she stressed.
