Program to boost economy
At least 1.7 million jobs per year would be generated under President Ferdinand Marcos Jr.’s six-year Pambansang Pabahay para sa Pilipino: Zero ISF 2028 Program.
Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar said that other than the increase of cash flow in the housing sector market, the housing program would also generate employment to many jobless Filipinos.
“It is projected to have direct and indirect jobs in the sector, especially in areas where mid-rise to high-rise units will be built,” he said.
Acuzar projected that about 1.7 million jobs would be created annually when the Pambansang Pabahay Program goes full blast with the construction of housing units.
A study showed that at least eight workers are necessary in the construction of a housing unit within a certain period.
The Pambansang Pabahay Program is eyeing to build one million units per year in the next six years.
The significant number of jobs is seen to contribute in the administration’s post-COVID-19 pandemic recovery efforts and in furtherance of the eight-point economic agenda of the Marcos administration, DHSUD said.
As of August 2022, the Philippine Statistics Authority reported 2.68 million unemployed Filipinos aged 15 to 64 years old.
Under the program, the DHSUD seeks P36-billion interest support per year and calls for the active involvement of both government and commercial banks on the financing side.
“With this program, we will also be tapping the economic pump-priming potentials of the housing sector,” Acuzar said.