[Please be seated.]

Maraming salamat sa ating Human Settlements and Urban Development Secretary, Secretary Jerry Acuzar at sa kanyang magandang pinalabas. May pagka-showbiz ang ano natin ha, [laughter] itong Chairman’s Report natin.

Nandito rin po ang ating Kalihim ng Department of – ng DOLE, at nandito po ang Labor department, nandito po si Secretary Benny Laguesma na siyempre isa sa sektor na binibigyan ng serbisyo ng Pag-IBIG at saka ng lahat ng housing is the labor sector.

Pag-IBIG Fund CEO  Marilene C. Acosta who – nag-uusap kami at we were recalling the evolution of all of the housing programs starting from what was then the Ministry of Human Settlements where the original concept of housing development was evolved, not only from the construction of structures for people to shelter in, but also the construction or the forming of communities. Kaya human settlements para naman maging maayos, maging maganda ang tinitirahan ng ating mga kababayan.

And our proverbial host here is Pasay City Mayor Imelda Calixto-Rubiano; the members of the HDMF, the Board of Trustees, and the management committee; ating mga ka-partner sa private sector; lahat ng mga opisyal at staff ng Pag-IBIG Fund; ang aking kasama sa ating serbisyo publiko; ladies and gentlemen; distinguished guests, magandang hapon po sa inyong lahat. [applause]

Allow me at the outset to extend my warmest greetings to all the officials and employees, the Pag-IBIG fund members, and stakeholders who are present with us today as we are gathered for the Chairman’s Report to the public on the state of the Pag-IBIG Fund.

It is the government’s fundamental goal to ensure adequate access to decent and affordable housing for our fellow Filipinos, especially in the face of a housing backlog, which I think the number, the working number that we have is 6.5 million units ang kakulangan sa ating pabahay para sa ating mga kababayan kaya’t ‘yan ang ating laging ginagawang target.

And that is why my father, President Marcos, envisioned – hindi ko sasabihin ‘yung senior kasi mumultuhin ako niyan ‘pag sinabi ko ‘yung senior. Sasabihin niya na matanda na raw siya. Ayaw niya ‘yung senior.

My father envisioned when he issued Presidential Decree No. 1530, which established the Home Development Mutual Fund (HDMF) in 1978. This fund was to enable shelter financing through a system of voluntary contributions from its members, both from the public and from the private sectors.

Forty-five years on, with the rapid growth of population, our country is still presently faced with this challenge. As I said, no less than 6.5 million socialized housing units are needed to stabilize the situation. And it is a daunting task when we look at it. But if we break it down and we consider the manifold physical, social, and economic factors that must be considered, we consider them in turn, we see that there is a way to achieve that number of 6.5 new housing units.

But on the other hand, also forty-five years later, the HDMF—now fondly referred to as the Pag-IBIG Fund—has evolved into a bigger financial institution, provident in character. With more than 2.6 million members, it offers a diversified range of financial services and income-generating endeavors for the mutual benefit of the members, ever-guided by sound fiscal management practices and actuarial science.

And we are confident that this is achievable because we look to the record of the Pag-IBIG Fund and that – those sound management practices and shall we say, very conservative fiscal management, has always been in place. And that is why it is possible for Secretary Jerry to come and to show us the new figures for which we are very happy about since as has been mentioned they are the best record of any year since the inception of the Pag-IBIG Fund. [applause]

The Pag-IBIG Fund posted an unprecedentedly high figures since the time of 1978 – from – by any, by all the different facets – from members’ contributions, to housing loans released, to loan collections, to dividends declared, all the way to its total assets and net income.

This is clear evidence of highly astute and competent leadership and financial management of the Fund.

And for that, I congratulate you and you should pat yourselves on the back and give yourselves a round of applause. [applause]

To see these results for 2022, the members will be assured as to the soundness of the Fund’s financial position, the safety of their own contributions and investments, and the Fund’s continuing reliability as a provider of key financial services and as a vehicle for their personal savings and investments.

It is very encouraging that through the years, that in spite of periods of volatility, uncertainty, and sometimes very complex challenges, including the supervening pandemic, the Pag-IBIG Fund has remained true to its original vision and that is to provide a secure savings program, a dependable and affordable housing – to be able to give dependable and affordable housing loans for the benefit of its members.

In the past year alone, the Pag-IBIG Fund has released more than 117 billion pesos in housing loans to more than 105 thousand members. [applause]

If we look beyond the cold statistic, this translates to more than 105 thousand Filipinos and their families who have now been empowered to own and build the homes that they – that we all as Filipinos dreamed of.

The Pag-IBIG Fund has likewise provided more than 53 billion pesos worth of short-term loans to more than 2.6 million members to help with their immediate financial needs.

And aside from this, the Fund has continued to promote financial inclusivity and the value of savings to our fellow Filipinos.

In 2022, nearly one million members saved more than 39 billion pesos under the voluntary savings program of the Pag-IBIG Fund, which is notable. It is a 54% increase from the amount of savings recorded in the previous year.

Through the prudent management of its members’ funds, the Fund has earned an impressive annual net income of more than 44 billion pesos and declared more than 42 billion pesos in dividends.

These figures are undeniable proof not only of the Fund’s success, but also of how its operations have redounded to the benefit of its individual members and to the nation’s economy as a whole.

So I call upon the Fund to further build on this growth and momentum to provide and to improve the lot of the Filipino workforce, and also to significantly assist in the addressing our housing backlog as an industry leader in home mortgage financing.

I will issue a challenge to the Fund: work closely with the Department of Human Settlements and Urban Development (DHSUD), saddled as it is by budgetary constraints, in order to find effective strategies to ease our housing situation, by leveraging on your industry [experience], the expertise and acumen that you have gained.

I enjoin all your officers and employees to be guided by the principles of transparency and accountability as you always have in carrying out your mandate and ensuring judicious management of the Fund and of the members’ hard-earned money.

It goes without saying that as public servants, we must maintain the trust and the confidence reposed in us by government institutions, especially those financial in nature and more importantly by the people.

Maintaining this trust is crucial if we are to build upon the Pag-IBIG Fund’s accomplishments and achieve our goals in housing.

So let me acknowledge as well our developers, our employers, housing industry players, and other partners for their invaluable contributions to the continued success of the Pag-IBIG Fund.

It is this partnership that brings the success to the Fund and for that once again, we thank you for that partnership and that coordination with the government. [applause]

Let us further strengthen those partnerships and double down on our efforts to provide adequate access to decent and affordable human settlements.

Finally, it is important that we also recognize the absolute central pillar of the Pag-IBIG Fund — namely its 2.6 million-strong members.

With the members’ continued support, the Pag-IBIG Fund has grown into a financially strong and secure institution, boasting more than 827 billion pesos in total assets.

And I was teasing the Secretary kung baka paper ano lang ‘yan ha, baka sa accounting lang, binago niyo ‘yung accounting method ninyo kaya nagkaroon ng ganyang kalaki Hindi naman daw. We are still following generally accepted accounting principles. [applause]

Indeed, the members’ contributions are the lifeblood of Pag-IBIG and the reason for its continued success.

So I exhort our members to remain ever-productive in their employment and commercial pursuits, so as to continue to sustain the Pag-IBIG Fund, animated by the same spirit of mutual help and benefit that was the theory and the blueprint and the concept behind the creation 45 years ago of the Fund.

Indeed, the Pag-IBIG Fund has been an exemplar of “PAGtutulungan”—of mutually beneficial multi-sectoral partnership, and even of love—as so aptly etched in its name, which has become a Filipino household term for almost half a century.

Let us continue to work to provide every Filipino with a dignified, comfortable, [and] productive life, with a home that they can truly call their own.

Thank you and I wish the Pag-IBIG Fund continued success in the years ahead.

Congratulations on the wonderful performance that is being reported here today and keep up the good work.

Maraming, maraming salamat po sa inyong lahat at magandang hapon po sa inyo. [applause]

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Watch here: Pag-IBIG Fund Chairman’s Report

Location: Function Rooms 1-2, SMX Convention Center, Mall of Asia Complex, Pasay City