By Brian Jules Campued
President Ferdinand R. Marcos Jr. directed government agencies to sustain efforts in addressing the housing gap in the country, noting a “terrific” impact it would bring to the Philippine economy.
President Marcos presided over a sectoral meeting with officials from the Department of Human Settlements and Urban Development (DHSUD), National Economic and Development Authority (NEDA), and other concerned agencies at the Malacañan Palace on Tuesday.
DHSUD updated Marcos on the government housing programs under the Pambansang Pabahay Para sa Pilipino (4PH) Program, while NEDA presented an assessment of the subject matter, including issues and recommendations.
“Even the effect on the economy is going to be terrific ‘pag nagawa natin ito. Magandang effect talaga sa ekonomiya. And that’s why it’s necessary. We have to do this. We have to find a way to do this. We have to be a little creative. Hindi ito standard na ginagawa,” he said.
According to Malacañang, the DHSUD made several requests on the 4PH Program, such as issuing a funding guarantee, that would increase the confidence of government financial institutions in supporting the program and encourage participation of the private sector.
The agency also asked the Chief Executive to certify the 4H Bill as urgent and include it among the priority legislation in the upcoming State of the Nation Address in July, as well as ensure budget allocation for support facilities like basketball courts and parks.
On the sovereign guarantee being requested to implement housing projects, Marcos underscored the importance of a comprehensive risk assessment and possible implications of the proposal to the 4PH Program.
“Let’s generate those numbers and see what really in terms of real-world cost is going to be — what is the condition really of the market, how easy or how hard is it going to be to turn — for our guarantee to turn these things around. For the interest subsidy,” he said.
“Sige as soon as you can para ma-desisyunan na natin ‘to. But we’re going to — everybody has to work together on this so that you can agree on the numbers. So, we have working numbers that we have confidence in. Hindi ‘yung arbitrary that we just grab the number out of the air. It has to be based on the historical experience in the housing industry,” he added. – iro
