President Ferdinand “Bongbong” Marcos Jr.’s announcement to prioritize the country’s 6,5-million housing backlog has earned the attention of the Department of Human Settlements and Urban Development (DHSUD) and the Government Service Insurance System (GSIS) which have opted to partner together and support the administration’s concern.
GSIS president and general manager Jose Arnulfo Veloso and DHSUD Secretary Jose Rizalino Acuzar, made the commitment in a meeting on Monday.
Veloso said the GSIS will team up with the DHSUD to address the two main challenges in the housing sector – affordability and access to funds. Acuzar welcomed Veloso’s decision to support the housing thrust of the government to close the country’s housing gap.
Acuzar also stressed the role of government financial institutions (GFIs) and other commercial organizations as fundamental pillars in the new administration’s housing program. He previously met with the top officials of Land Bank and Development Bank of the Philippines (DBP) to enjoin them in promoting the Marcos administration’s housing program designed to address the country’s 6.5 million housing backlog.
Both LBP and DBP officials have also expressed support to the national housing program. A Memorandum of Understanding on the matter will shortly be signed.
DHSUD Assistant Secretary for Support System Avelino Tolentino earlier said they target to build six million housing units in the next six years through its Pambansang Pabahay para sa Pilipino program, with a production average rate of one million housing units per year.
Tolentino said the funds that will be allotted in the program will not be directly used in housing construction, but in housing interest support instead.