President Ferdinand R. Marcos Jr. called on the Pag-IBIG Fund to improve the quality of life of Filipinos as it helps in addressing the housing backlog of the country.
During the Pag-IBIG Fund Chairman’s Report for 2022 on Tuesday, Marcy 28, Marcos urged Pag-IBIG’s personnel to be transparent and accountable for the efficient management of members’ contributions.
“I call upon the Fund to further build on this growth and momentum to provide and to improve the lot of the Filipino workforce, and also to significantly assist in addressing our housing backlog as an industry leader in home mortgage financing,” he said.
“I will issue a challenge to the Fund: work closely with the Department of Human Settlements and Urban Development (DHSUD), saddled as it is by budgetary constraints, in order to find effective strategies to ease our housing situation, by leveraging on your industry [experience], the expertise and acumen that you have gained,” he added.
Citing Pag-IBIG’s 2022 report, Marcos said the institution has released over P117 billion in housing loans to over 105,000 members, as well as P53 billion in short-term loans to over 2.6 million members.
He said nearly a million members saved over P39 billion under its voluntary savings program, with a 54% increase from the previous year’s figures.
Pag-IBIG posted a net income of over P44 billion with more than P42 billion dividends in 2022.
“These figures are undeniable proof not only of the Fund’s success, but also of how its operations have redounded to the benefit of its individual members and to the nation’s economy as a whole,” Marcos said. AG– gb
