Housing department seeks higher funding
MANILA, Philippines — The local housing sector is in need of more funding from the government to ensure decent living conditions for all, according to the Department of Human Settlements and Urban Development (DHSUD).
DHSUD chief Eduardo del Rosario said he is optimistic that the National Housing Development, Production and Financing Act of 2019 would soon be enacted into law.
The bill is among the 25 legislative measures that the Duterte administration is targeting to pass within the year as approved by the Legislative-Executive Development Advisory Council (LEDAC).
The bill aims to significantly lessen the country’s housing backlog through continuous funding support.
“There is a need for DHSUD to be allotted with enough funds to better carry out its functions. We are optimistic about the ongoing deliberations regarding this and we hope that the bill will be approved soon,” del Rosario said.
“As the primary housing and urban development agency, it is also our duty and mandate to ensure that every human settlement in the country meets or even exceeds the ideal sustainable neighborhood,” he said.
The bill mandates DHSUD and its key shelter agencies to intensify the implementation of the vital components of the NHDPF Act.
Under the bill, the department shall develop and implement various housing programs intended for the poorest of the population including resettlement, housing programs for low-salaried government employees, settlements upgrading, and housing programs for calamity victims, among others.
It will also cater to the formal and informal sectors in the low-income bracket and to take charge of developing and administering social housing programs, particularly the Community Mortgage Program and its different modalities.
Further, it will increase affordable housing loans to finance those who want to acquire housing units through the development and operation of a secondary market for home mortgages.
Once approved, the bill will provide some P2.7 trillion in funding over a 20-year period. Some P135 billion will be released under its annual budget.
“DHSUD requires the support of all partners not only the private sector but equally important from the legislative and executive branches of the government to enable us to fulfil our functions and exceed expectations in delivering quality products and services to our stakeholders and beneficiaries,” Del Rosario said.
Source : https://www.philstar.com/business/2021/03/14/2084089/housing-department-seeks-higher-funding
Tags: Department of Human Settlements and Urban Development (DHSUD). Legislative-Executive Development Advisory Council (LEDAC)
