BAGUIO CITY, March 9(PIA) -- Pag-IBIG or the Home Mutual Development Fund called on local government units of North Luzon to help not only in building housing projects for the Filipino people but more importantly on building sustainable communities.
PAGIBIG Senior Vice President Fermin Sta. Teresa made the call during led regional dialogue Open Government and Participatory Governance at Albergo Hotel here Tuesday which was attended by officials and representatives of LGUs from Regions 1, 2 ,3, and the Cordillera.
Sta. Teresa disclosed that part of the bold reforms that PAGIBIG is undertaking under the administration of President Rodrigo Duterte is to make home ownership within the reach of every PAGIBIG member.
He reported an increasing trend in PAGIBIG housing loans takeout wherein in 2017 its P65.1 billion investments reached out to 80,964 beneficiaries.
For this year Sta. Teresa disclosed that the agency has an allocation of P71.5 billion for housing projects. PAGIBIG he said wants to partner with LGUs and other local community stakeholders in ensuring that it is not only about implementing housing projects but mostly on building sustainable communities for the Filipino people. He encouraged LGUs and community partners to do a consultation first with possible beneficiaries in their respective communities. Housing project beneficiaries he can go as low as 10 families.
Under such housing project partnership, LGUs/local stakeholders need to make their proposals that include identifying their target beneficiaries. If needed PAGIBIG can also link them to housing developers.
Citing the provincial LGU of Palawan as an example, Sta. Teresa disclosed that they have already initial talk on bringing in housing projects in every municipality of the province.
For updates, Sta. Teresa reported that as of 2017, PAGIBIG has P491.03 billion total assets and P36 billion in membership savings with 17.69 million registered members nationwide.
Also in 2017, he reported a PAGIBIG gross income of P40.48B, a net income of P29.44B and with the highest ever dividend rate of 7.40 percent per annum. (JDP/CCD-PIA CAR)