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Friday, March 29, 2024

Measly budget won’t let us hit 1m/yr housing target—Acuzar

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With a measly budget for 2023, the Department of Human Settlements and Urban Development (DHSUD) will not be able to realize the plan of the Marcos administration to build 1 million houses every year, Housing Secretary Jose Rizalino Acuzar admitted.

In the recent Senate hearing of the DHSUD’s proposed budget, Acuzar noted it will be difficult to achieve this housing program of President Ferdinand Marcos Jr.

Sen. Robin Padilla asked Acuzar how the agency can build 1 million houses a year when the Department of Budget and Management (DBM) only approved P3.95 billion for the DHSUD under the 2023 National Expenditure Program (NEP).

Padilla said this represents barely half of the agency’s proposed P7.61 billion budget for this year.

Acuzar thus pleaded with the senators to consider the additional P36 billion they have been asking to fund the interest subsidy of the housing program and address the country’s 6 million housing backlog within six years.

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Based on the DHSUD proposal, which was approved by President Marcos, the housing agency and the private sector would provide housing for a recipient, who would be the principal lender and will be charged 1% interest.

The remaining interest for the housing loan will be paid by the government.

Acuzar said the private sector has many sources of funds, like banks and capital market, which will be used by the government for the housing program.

Meanwhile, Sen. Cynthia A. Villar scored the Fertilizer and Pesticide Authority (FPA) for their plan to put up a building amid their tight budget.

FPA officials said they are planning to put up a laboratory where fertilizers and pesticides will be tested.

But according to Villar, for a regulatory agency like FPA, their P250-million budget is already big. She also said the agency used to have only P100 million in allocations. 

Based on the agency’s proposed budget, FPA has no programs, and the allocations are only for the salaries of personnel and overhead or expenses for running the offices, the senator noted.

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