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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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