PRESIDENT Marcos Jr. yesterday directed the Department of Human Settlements and Urban Development (DHSUD) to determine and submit how much funding guarantee should be made by the national government to support his administration’s housing program.
The President made the directive during the sectoral meeting held in Malacañang where the DHSUD presented updates on the government’s housing programs, and the National Economic and Development Authority (NEDA) gave an assessment of the housing program, including issues and recommendations.
He said the guarantee rates should be based on historical experience in the housing industry.
The President also said that the national housing thrust of the administration must be sustained to address the country’s shelter gap.
He also said he expects the government’s housing programs and projects to create a positive impact on the national economy.
“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 (Even the effect on the economy is going to be terrific if we are able to do this. It would have a good effect on the economy. 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),” Marcos said.
The DHSUD, during the meeting, reported about the status of the ongoing housing program and requested for the issuance of a funding guarantee for the 4PH program to increase the confidence of government financial institutions in supporting the undertaking and attract the participation of private banks and institutions.
It also urged the President to certify the 4PH Bill as urgent to ensure budget allocation not only for the housing program but also for support facilities like basketball courts and parks.
Senate Bill Nos. 2409 and 2108 authored by Senators JV Ejercito and Christopher Lawrence Go, respectively, seek to institutionalize the housing program to address the country’s 6.5 million housing backlog, or the building of one million housing units per year until 2028.
