Pres Marcos Jr. urged Pag-IBIG Fund to make housing financing more accessible to Filipinos
President Marcos emphasized the importance of making home mortgage financing more accessible yet sustainable during the presentation of the Pag-IBIG Fund chairman’s report for 2023. He highlighted the significant housing backlog inherited by his administration and called for concerted efforts to translate statistics into tangible homes for people to live in.
With millions of Filipinos still lacking decent shelter, Marcos urged Pag-IBIG to balance accessibility with sustainability in home mortgage financing. He emphasized the need to inspire current and future generations to strive for homeownership by ensuring affordable housing options.
The government has launched a housing program aiming to address the 6.5-million housing backlog, with a goal of building one million houses per year before Marcos steps down in 2028. Despite acknowledging the challenge as a “tall order,” Marcos expressed confidence in the leadership of Human Settlements Secretary Jose Acuzar, also the chairman of Pag-IBIG Fund, in achieving this objective.
Marcos commended the efforts of the Department of Human Settlements and Urban Development (DHSUD) and its attached agencies in breaking out of their comfort zones to tackle housing issues. He cited projects like the Pasig River Urban Development Project as examples of proactive initiatives to address urban challenges.
Pag-IBIG Fund announced dividend rates of 6.55 percent per annum for regular savings and 7.05 percent per annum for MP2 savings for 2023. The corporation achieved significant milestones, including the highest housing loan amount at P126.04 billion, benefiting over 96,000 members. Additionally, short-term loans covered 2.65 million members, contributing to an annual net income of P43.79 billion.
With assets totaling P925.61 billion and substantial dividends and net income, Pag-IBIG Fund remains a vital instrument in the government’s efforts to provide affordable housing and financial assistance to Filipinos.
Politics News: Pres Marcos Jr. urged Pag-IBIG Fund to make housing financing more accessible to Filipinos
