SHFC supports DHSUD-proposed features of new 4PH bill filed at Senate
Published on 20 May 2024
The Social Housing Finance Corporation (SHFC) expressed its full support for the legislative efforts to institutionalize the Pambansang Pabahay Para sa Pilipino Housing (4PH) Program during the public hearing presided over by Sen. JV Ejercito, Chairperson of the Senate Committee on Urban Planning, Housing, and Resettlement, on May 20, 2024, at the Senate of the Philippines in Pasay City.
SHFC Endorses 4PH Program Initiatives
SHFC Executive Vice President Atty. Junefe G. Payot articulated the Agency’s endorsement of the measures to strengthen the 4PH Program by highlighting SHFC’s readiness to implement at least 110 projects in SHFC’s pipeline. “Once completed, these 4PH projects are expected to generate over 500,000 housing units. We are fully committed to supporting the Department of Human Settlements and Urban Development (DHSUD) in this initiative,” he affirmed.
Legislative Support and Substitute Bill Introduction
Meanwhile, in response to the specific legislative measures, namely Senate Bill Nos. 2108 and 2409, sponsored by Sen. Bong Go and Sen. Ejercito respectively, DHSUD Undersecretary Atty. Avelino Tolentino III introduced the outline of a substitute bill which seeks to enhance the salient provisions of the two Senate Bills. This bill has identified funding sources and incorporated tax exemptions under the national flagship program. Atty. Tolentino was accompanied by DHSUD’s 4PH Director Mark Aeron Sambar.
Advocating for a Vertical Housing Strategy
It was also highlighted during the hearing that it is now critical to pursue a vertical housing strategy given the huge number of Filipino families in need of housing, the need to make in-city housing affordable, and the scarcity of land suitable for housing. These factors combined explain why the traditional horizontal approach might no longer be viable if the housing backlog is to be addressed once and for all.
SHFC Representation at the Senate Hearing
Corporate Planning and Communications Group Vice President Florencio Carandang, Jr., and Human Resource and Administrative Group Vice President Atty. Tristan Frederick L. Tresvalles also served as resource persons and represented SHFC at the meeting.
Source
📷Screengrab from https://www.facebook.com/senateph
