GSIS suspends housing loan programs

By: Hazel F. Gloria

CEBU CITY, May 17 (PIA) --- The Government Service Insurance System (GSIS) announced recently that effective April 28 2011, it suspend all of its housing loan programs.

This is in line with the thrust to adopt wholesale approaches to asset sales and to wind down housing programs in favor of working with key shelter agencies (KSAs).

GSIS President and General Manager, Robert Vergara explained that the GSIS wants to synchronize its efforts in the implementation of the government’s housing loan program through closer partnership with the KSAs, whose core functions focus on housing.

“We will meet with Pag-IBIG as soon as possible to discuss how we can possibly use its lending structure for the housing needs of our members and also to avoid duplication with their functions,” Vergara added.

GSIS is really not a housing institution but it is first and foremost a pension fund and it is within the mandate of the pension fund to enter into housing loan programs, Vergara explained.

GSIS clarified that applications and existing housing loans before April 28 will continue to be processed and serviced.

Policies and procedural guidelines for GSIS housing programs will remain in effect for these housing loans. The disposition of acquired assets will continue but on a cash basis only.

Meanwhile, Vergara said the suspension of its housing loan programs will enable the pension fund to focus on other types of loans it can offer to its members and pensioners.

To date, around 85 percent of GSIS’s loan portfolio is into short to medium-term loans namely the consolidated loan, emergency loan, one-time cash advance, policy loan, and the pension loan, which can be availed online via the G-W@PS kiosk using a member or a pensioner’s eCard.

Vergara assured its more than 1.7 million members and pensioners that the System is in a healthy financial position and “withdrawal from direct home lending will not adversely affect this standing. (PIA-7/hfg/ GSIS-Cebu)

===========

Wage board to continue monitoring

Central Visayas economic condition

Eli C. Dalumpines

CEBU CITY , May 17 (PIA) – The top official of theDepartment of Labor and Employment (DOLE) in Central  Visayas said that the Regional Tripartite Wages 
and Productivity Board (RTWPB) here will continue to monitor the economic situation of the region even after it failed to formally declare the existence of a supervening condition during its last meeting on May 12.

DOLE-7 Acting Director and RTWPB Chairman Exequiel Sarcauga, in an interview with PIA, clarified that it is the inherent duty of the wage board to conduct a periodic monitoring of the economic situation in the region to see if wage fixing is needed.

According to Sarcauga, this will be one of the agenda of their next meeting scheduled on May 19.

“We will continue to hear updates on the economic condition in the region and assess what are its effects on people so that we will be able to see whether there is a need to introduce wage increase,” he said.

He, however, informed that the board cannot deal with the wage increase petition filed by the labor groups yet pending the result of the query they made to the National Wages and Productivity Commission (NWPC) regarding the result of their voting last Thursday.

To recall, RTWPB voted 3-2 in favor of the existence of a supervening condition in the region but it was not able to make a formal declaration because the votes did not meet the requirements set by the rules of the wage commission.

The NWPC rules require four affirmative votes before the wage board can declare the existence of a supervening condition.

The board made a query to the commission on the case of Central Visayas , where one of the members cannot be physically present during that particular meeting 
because of an appointment outside of the country, can be exempted from that rule.

However, the board is yet to receive an answer from NWPC regarding the issue.

Sarcauga informed though that the board will proceed with the public consultation for wage increase at the provincial level should the commission failed to answer their query, as agreed in their last meeting.

“The board will iron out issues on the holding of public consultations if we will not receive an answer from the NWPC on Thursday,” according to the DOLE official. (FCR/ECD/PIA 7-Cebu)

===========

Budget for fuel aid to tricycle drivers in Cebu

under Pantawid Pasada ready for distribution

by Fayette C. Riñen

‘MOA between DILG & Cebu Capitol required before implementation’

CEBU CITY, May 17 (PIA) - Budget allocation for the fuel assistance to the over 1,000 tricycle franchise operators in Cebu under the ‘Pantawid Pasada’ Program is ready for distribution as soon as the Memorandum of Agreement (MOA) between the local Department of Interior and Local Government (DILG) here and the Cebu Provincial Government is out.

Department of Interior and Local Government (DILG) -7 Legal Officer Atty. Danilo Almendras in a recent local TV interview said the MOA is required and that their office and the Sangguniang Panlalawigan have yet to sign the agreement before the public transport system fuel assistance can be implemented for the tricycle drivers.

The Pantawid Pasada under the Public Transport Assistance Program (PTAP) of Pres. Aquino provides fuel assistance to identified jeepney and tricycle drivers nationwide and is described as a temporary breather for the most hard-hit sectors from the rising oil prices.

Unlike the fuel assistance for jeepney drivers that comes in the form of a Smart card with a pre-load amount of P1,050, the gas aid for tricycle drivers is given in cash of P150 per tricycle franchisee while local government units (LGU) can also augment the financial assistance given by the national government with the amount to be determined per LGU, this is learned.

Based on the guidelines, regional DILG offices and respective LGUs need to forge a MOA while the latter is responsible for the preparation and certification of the list of tricycle franchise operators with address and number of operating tricycles. The list will serve as the basis for the computation of the financial assistance given by the regional DILG office concerned, this is said.

Almendras however, advised tricycle operators to be ready with their certificate of franchise from the local franchising board of their respective LGUs, which must be presented before the fuel purchase assistance can be given.

The National Government through the Department of Energy has allotted P450M for the PTAP. (PIA 7-Cebu)