MANILA, Philippines – There is a backlog of 1.4 million units of affordable housing despite the 300 mass housing projects approved by the Board of Investments (BOI).
In an interview, Board of Investments (BOI) managing head Cristino L. Panlilio said they have included mass housing in the 2011 Investments Priorities Plan (IPP) to address the backlog.
However, the IPP has not yet been approved because of the dispute between the office of the vice president and the BOI and the Department of Finance. The DOF and the BOI would like to reduce the maximum worth of mass housing units to P2.5 million but the office of the vice president wants the ceiling to remain at P3 million.
In a separate interview, BOI executive director Efren V. Leano said their data showed that the 1.4 million units backlog is expected to go up further to four million by 2016.
“There is a need to encourage to go into mass housing,” Leano said. “From 2010 till today, investments in mass housing has reached P1.8 trillion and has generated employment for 100,000 individuals,” he added.
The DOF earlier said they would like the incentives for mass housing to be given directly to home buyers instead of the developers. Panlilio said they are open to this suggestion although this particular scheme did not come up during the consultations they did with the various government agencies when they were writing the 2011 IPP. Likewise, it was not brought up during any of the IPP public consultations held earlier this year.
“That suggestion never came up but we are open to discussing that. We are open to listening,” Panlilio said. –Ma. Elisa P. Osorio (The Philippine Star)
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