Pag-IBIG allocates P250B for govt’s national housing program

State-run Home Development Mutual Fund or Pag-IBIG Fund said Thursday they have allocated P250 billion to finance the government’s national housing program.

At a televised public briefing, Pag-IBIG Fund department manager for public media affairs Jack Jacinto said the multi-billion allocation was part of their commitment to support the Marcos administration’s Pambansang Pabahay para sa Pilipino program.

“Ito po ay parte ng ating developmental loan program kung saan nag-allocate ang Pag-IBIG Fund ng P250 billion upang maisakatuparan ‘yung mithiin ng administrasyon na masolusyunan ang housing backlog ng ating bansa,” he said.

(This is part of our developmental loan program where the Pag-IBIG Fund allocated P250 billion to fulfill the administration's goal of solving the housing backlog of our country.)

Jacinto said the program aims to build one million housing units per year or a total of six million housing units within the six years of the current administration.

Of this national target, he noted that the Pag-IBIG Fund vowed to build at least 708,000 housing units within six years, in coordination with the Department of Human Settlements and Urban Development (DHSUD).

He further encouraged local government units and accredited developers of Pag-IBIG Fund to apply for the program to be able to build housing units for members of Pag-IBIG.

DHSUD Secretary Jose Rizalino Acuzar previously said that the rollout for the national housing priority program already started in several areas in the country in September with groundbreaking ceremonies in key cities and municipalities like Quezon City, Bacolod City, Roxas City, Iloilo City and Mariveles, Bataan. — RSJ, GMA Integrated News