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Sunday, April 25, 2004
Pag-ibig targets 200,000 low cost housing
By Clara Mae Hortelano
THE Home Development Mutual Fund or Pag-Ibig Fund is targeting to develop at least 200,000 low-cost and socialized housing units nationwide.
Amado Bagatsing, vice chairman of Housing and Urban Development Coordinating Council (HUDCC), said the council is moving full-speed in setting up the Socialized Housing Finance Corporation as the lead agency to implement the government's housing program for the urban poor and low-income families.
Bagatsing, who was in Bacolod Thursday, said that Subdivision and Housing Developers Association Inc. and Real Estate Brokers Association of the Philippines pledged to develop 200,000 houses this year.
He said that Pag-Ibig now makes it easy for the private sector to develop low-cost and socialized house and lot packages for sale to low income Pag-IBIG members who cannot afford the housing packages available in the market.
Bagatsing added that they have increased for this year the budget allocation for their shelter financing program to P17 billion from the P15 billion of 2003.
"Since the start of President Gloria Macapagal Arroyo's administration, there were almost 700,000 families who have benefited in the housing program of the government," he said.
Bagatsing added that through the housing program, they are determined to equitably distribute nationwide economic opportunities generated from housing production, and in the process, stimulate stability brought about by economic development.
Tie up with LGU
He noted that Pag-IBIG Fund Board of Trustees recently approved the amended guidelines for Local Government Units Housing Projects to provide affordable financial assistance to LGU's to fast track the development of housing projects.
The program, he said, will provide an opportunity for local government units to comply with R.A. 7279 by identifying and providing land for socialized housing.
Bagatsing said that they have lowered the interest rate for the LGU housing loan program to nine percent per annum, whereas the previous guidelines provided for varying rates ranging from 11 percent and 17 percent depending on the selling price of the product packages.
Lawyer Romero Quimbo, Pag-IBIG president and CEO, said that the program is part of the PGMA's effort to devolve the tasks and responsibilities of the housing sector to local leaders.
Lawyer Romulo Fabul, CEO and Commissioner of Housing and Land Use Regulatory Board, urged the public to report through their office unscrupulous developers.
He noted that their office will act immediately on complaints of sub-standard materials. He said that with the 4,000 units developed, there have been only 12 complainants so far.
There are three Ms, he noted, that the buyers are currently looking for when buying a low-cost housing unit.
(April 23, 2004 issue)
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