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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
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 #TakePicturesVideosturesVideos
July –
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
7 July – Global Forgiveness Day
11 July – World Population Day
15 July – World Youth Skills Day
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against
Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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