PRESIDENT Ferdinand “Bongbong” Marcos Jr. said on Tuesday, January 31, 2023, that the government aims to establish a subsidy fund for its housing programs.

During the groundbreaking ceremony of the 4PH housing project in Batasan, Marcos called for the Congress to include a provision in the national budget in the coming years, having an interest subsidy support on housing projects noting that some of the beneficiaries of the housing project will not be able to afford the monthly amortization for the units.

“So the government is committed to secure the needed housing interest support for 2023,” the President said.

“I now call – kaya nandito tiniyak namin [na] nandito si Speaker, dahil I now call on Congress for your support in including housing interest support as part of the regular appropriations for the succeeding years,” he added.

Marcos said he and Secretary Jerry Acuzar of the Department of Human Settlements and Urban Development (DHSUD) are also looking at putting up a subsidy fund for the government housing program with P1 billion seed money.

Acuzar said the monthly amortization of the beneficiaries could go down to around P3,500 to P4,000 if there is an interest subsidy.

In the bid to provide Filipinos with decent homes, Marcos encouraged the DHSUD to continue its efforts in forging and strengthening partnerships with other government agencies and the private sector to secure requirements for housing production and funding with transparency.

“The honest work and prompt compliance with documentary and legal requirements of officials, personnel, developers, construction groups and private banks are needed to commence the funding and construction of housing units as originally planned,” he said.

“The local government’s role, in particular, is crucial in ensuring the success of all of these projects, especially in identifying suitable lands for housing, selecting the qualified beneficiaries, and securing the sustainability and livability for our people for the next – for the future years to come,” he added. (SunStar Philippines)