Pag-IBIG declares 6-month moratorium on loan payments of members in Marawi

The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund has declared a six-month moratorium on the collection of all types of loan payments for its members in conflict-torn Marawi City.

"Yes, we have imposed a moratorium on loan payment for six months for our members working in Marawi as well as those who reside in Marawi but working outside the city," Pag-IBIG Chief Executive Officer Acmad Rizaldy Moti told GMA News Online in a phone interview.

"This has already taken effect... also if they missed paying their loans in June, counted na rin 'yun sa six months moratorium," Moti noted.

A separate statement from the Office of the Cabinet Secretary said that the Pag-IBIG's action was in response to the local government unit's appeal to the HDMF.

"This was approved during the board meeting chaired by the Cabinet Secretary last July 6," Moti said.

Apart from moratorium on loan payments, similar undertakings has been approved on employers' remittances of members' contributions.

Malacañang said it is planning to spend P20 billion for the rehabilitation of the city.

Several buildings, particularly those located at the business district of the city, have been destroyed in military air strikes and clashes between government forces and members of the Maute group.

The local terror group attacked the city on May 23, which prompted President Duterte's declaration of martial law in Mindanao.

The conflict has entered its seventh week with a death toll of more than 400, including more than 300 militants killed in clashes and air strikes.

At least 400,000 people, meanwhile, have been displaced. —ALG, GMA News