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Marcos to Congress: Include housing interest subsidy in annual budget


President Ferdinand “Bongbong” Marcos Jr. on Tuesday called on Congress to include a provision of having an interest subsidy support on housing projects in the national budget for the succeeding years.

Marcos made the call as he led the groundbreaking ceremony of the Batasan Development Urban Renewal Plan in Quezon City under his administration's flagship Pambansang Pabahay Para sa Pilipino Program.

"I now call on Congress for your support, including housing interest support as part of the regular appropriations for the succeeding years," Marcos said in his speech.

"Bukod pa roon, pinag-aaralan namin ni Secretary Acuzar ang pagtatayo ng subsidy fund para dito sa ating housing program," he added.

(We are studying establishing a subsidy fund for the housing program.)

Also present in the event were Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar, Speaker Ferdinand Martin Romualdez and Quezon City Mayor Joy Belmonte.

In an ambush interview, Acuzar said the monthly amortization could be lessened through the help of an interest subsidy. Instead of P8,000, he said a family could pay P3,500 to P4,000 if there is an interest subsidy.

“Ang usapan ho namin, hahanapan niya ng paraan na malagyan ng interest subsidy ang pabahay sa program. Kasi interest subsidy napakaimportante, 'yun ang magpapababa ng monthly amortization ng pabahay," Acuzar said.

(We are looking for ways to include an interest subsidy in the housing program. This is very important as this could lower monthly amortization.)

"Walang libre, may babayaran pa rin pero mura na lang," he added.

(It's not free but people will pay at a lower price.)

The first phase of the redevelopment of the Batasan area will include the construction of two 33-storey buildings with a total of 2,160 housing units, according to the DHSUD.

Marcos underscored that the housing plight "can only be addressed through a whole-of-society [and] a whole-of-nation approach."

"I welcome then and encourage the DHSUD to continue their efforts in forging and strengthening partnerships with other government agencies and the private sector to secure requirements for housing production and funding," he said.

"Be it the officials, personnel, developers, construction groups, and private banks — your honest work and prompt compliance with documentary and legal requirements are needed to commence the funding and construction of housing units as originally planned," Marcos added.

A simultaneous groundbreaking ceremony was also held in Cauayan City, Isabela, which is targeted to benefit 1,080 families through the construction of nine five-story buildings, including recreational parks and other amenities.

Acuzar said the housing project is proof that the government does not solely intend to address the housing gap, but also "exhaust all efforts to ensure that we renew our urban spaces to help improve the lives of our kababayans."

"We are trying our best to see what can we do to reinvent Metro Manila’s landscape. Our problem does not stop at providing quality and affordable homes, we also need to ensure that all projects lean toward urban development," Acuzar said.

The Marcos administration's flagship housing program aims to address the country’s housing gap by building one million houses per year for the next six year. —KBK, GMA Integrated News

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