Pag-IBIG Fund welcomed Finance Secretary Ralph G. Recto and newly appointed trustee, Maria Lourdes Doria-Velarde, as part of the 11-member Pag-IBIG Fund Board of Trustees, top officials stated Tuesday (20 February).
Finance Secretary, Recto, who now also serves as the Pag-IBIG Board’s ex-officio vice chairperson, is an experienced legislator who has pursued numerous economic and tax reforms. Doria-Velarde, who now sits as one of the agency’s private employers’ representatives, has had an extensive career in the construction industry. They join Pag-IBIG Fund Chief Executive Officer, Marilene Acosta; Budget Secretary, Amenah Pangandaman; Labor Secretary, Bienvenido Laguesma; Trade and Industry Secretary, Alfredo Pascual; Private Employees’ Representatives, Anthony Cesar Arellano and Gregorio Montenegro; Private Employers’ Representative, Atty. Cornelio Aldon; and Government Employees’ Representative, Ma. Lorelei Fajardo, as part of the Pag-IBIG Fund Board of Trustees. The board is chaired by Secretary, Jose Rizalino L. Acuzar, of the Department of Human Settlements and Urban Development (DHSUD).
“We look forward to working with Secretary Recto and Trustee Doria-Velarde in discussing and developing policies that shall enable Pag-IBIG Fund to continue providing responsive programs for its members and stakeholders. The expertise they possess in their respective fields shall allow us to further our efforts in heeding the call of President Marcos to uplift the lives of our fellow Filipinos through savings and affordable home financing under the Pambansang Pabahay para sa Pilipino Program,” said Acuzar.
Acosta, meanwhile, noted that Pag-IBIG Fund’s strong fiscal position and outstanding performance over the years can be attributed to their inclusive approach in addressing the needs of members and stakeholders who are properly represented in the agency’s board.
“The name Pag-IBIG stands for the acronym ‘Pagtutulungan para sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno.’ Our name itself denotes that the accomplishment of our mandates of providing savings and affordable home loans to our members lies on our ability to involve and develop synergies among all our stakeholders, whose voices are duly represented in our Board. We are happy that we are now joined by Secretary Recto and Trustee Doria-Velarde in pursuing our shared goal of continuing to provide excellent public service that the name Pag-IBIG Fund has become synonymous with,” Acosta stated.
In 2023, Pag-IBIG Fund released P126.04 billion in home loans, the highest amount of home loans released by the agency in a single year in its 43-year history. The amount was able to finance 96,848 housing units for its members.
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The article was originally published in Manila Bulletin.
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