Vice President and concurrent Housing and Urban Development Coordinating Council (HUDCC) chairman Noli de Castro urged yesterday the Senate and Lower House to restore the provision in the Charter of the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund that the shelter agency should “invest not less than 70 percent of its investible fund to housing.”
De Castro thanked the Senate and House for pushing the amendments in the Charter of the Pag-IBIG Fund that seeks to strengthen not only the Fund but the entire housing sector.
He said the draft bills approved by Congress would restore the tax-exempt privilege of Pag-IBIG Fund and authorize the board to set the contribution rates of members which would result in additional funds for the benefit of Pag-IBIG members.
However, De Castro objected to the deletion of the provision in Pag-IBIG’s existing Charter that the Fund should “invest not less than 70 percent of its investible fund to housing.”
“Housing is one sector with a big multiplier effect on the economy. Every P1 million invested in housing translates to P16.6 million of economic activity in the country,” De Castro said. “At this time of the global financial crisis, we need to put our funds in industries that would stimulate the economy and create more jobs for our people.”
He urged Congress to restore the provision to realize the prospective law’s objectives of providing the Filipino citizen with sufficient shelter through the mobilization of funds for shelter finance. – Pia Lee-Brago, Jose Rodel Clapano, Philippine Star
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
