Marcos to Pag-IBIG: Make financing more accessible

INQUIRER FILE PHOTO

MANILA, Philippines — President Ferdinand “Bongbong” R. Marcos Jr. on Tuesday ordered the Pag-IBIG Fund to make its  mortgage financing more accessible to Filipinos. 

Speaking at the Pag-IBIG Fund Chairman’s Report for Year 2023, Marcos lauded the agency for its service.

The agency was able to extend P126.04 billion in loans last year, and collect P142 billion worth of dues. 

“I urge the Pag-IBIG Fund to make its home mortgage financing even more accessible and to balance this with sustainability. This is to inspire Filipinos today, and the generations to come, to work hard to reach their goal of a house that they can call their own,” Marcos told Pag-IBIG officials. n

“We have inherited a huge housing backlog that must be reduced. The challenge before us today, including those in the Pag-IBIG, the housing sector, and the local government units, is to translate these statistics into actual homes that people can live in,” said Marcos. 

The President previously set a hefty goal of building 1 million homes for Filipinos per year of his presidency. 

Housing Secretary Jose Rizalino Acuzar, however, said that this cannot be rushed, as building settlements with quality takes time.