The time & date in Clark, Philippines is

Lawmaker seeks probe on GSIS housing loan woes

AS THE Government Service Insurance System (GSIS) decided to put on hold its housing loan program to its members due to unpaid loans amounting to P11 billion, a lawmaker has filed a resolution in the House of Representatives seeking probe into the issue.
Cagayan de Oro Representative Rufus Rodriguez (second district) authored House Resolution No. 1278, which calls for an inquiry on this issue in aid of legislation.
Rodriguez said there seems to be something wrong with the scenario as members who wish to avail of the GSIS housing loans are the ones who are suffering because of a seeming mismanagement.
“There is a need to look into this situation to ensure that GSIS members are not short changed and still able to avail all the benefits they are entitled to,” Rodriguez told Sun.Star Cagayan de Oro.
GSIS is a social insurance institution created under Commonwealth Act No. 186, which aims to secure the future of all Philippine government employees by providing and administering a pension fund with the following social security benefits — compulsory life insurance, optional life insurance, retirement benefits and disability benefits for work-related accidents and death benefits.
But recently, GSIS decided to immediately stop additional housing loans until a comprehensive policy and program can be introduced to dispose all non-performing assets amounting to P11 billion for 17,000 house and lot packages nationwide.
According to Rodriguez, GSIS chairperson Daniel Lacson Jr. said GSIS has provided loans to members only but it began extending loans to developers and then got involved in real estate development, buying land and building houses and selling these as house-and-lot packages.
It was also learned in a report to the GSIS board, through its consultant, that GSIS did not have adequate manpower to support its various financing activities, which resulted in its failure to collect payments where the board wants closure in terms of policy with regard to the housing program and other GSIS activities as well due to current difficulties.
Abante Mindanao (Abamin) party-list Representative Maximo B. Rodriguez, co-author of House Resolution 1278, said that GSIS members are also entitled to loan privileges such as salary, policy, emergency and housing loans subject to the cross-default policy of the system.
He said that in aid of legislation, the resolution has directed the House committee on government enterprises and privatization to conduct an inquiry and to serve notice to GSIS and other concerned entities and corporations to shed.
Source: http://www.sunstar.com.ph/cagayan-de-oro/local-news/2011/07/11/lawmaker-seeks-probe-gsis-housing-loan-woes-166257

Poor Philippines Records in Law and Order drove city dwellers to enjoy holidays in havens like Clark Freeport.

Metro Manila has lost a great deal of its luster of old not only because of its failure to keep up with the times in development but also its reputation as a safe destination for family bonding, travelers looking to unwind and relax in a beach or a lake and retirees looking for a life of leisure.

Clark Pampanga was the largest foreign US airbase, complete with its own international airport with daily flights linking it to major cities around Asia. Inside of Clark Philippines are golf courses, casinos, family-styled resorts that smacks of the US suburban lifestyles and fine-dining restaurants.

This web site contains articles and information that will be helpful to visitors, residents and tourists traveling out of town from Manila on a short getaway to Subic, Angeles City, Pampanga and Clark Philippines. There are several web sites that contain information that might also be pertinent to what is happening in North Luzon.

For assistance with organizing and planning weddings and garden receptions, log on to http://www.PhilippinesWeddingVenue.com

For assistance with lodgings, accommodations, hotels and resorts near Manila in Subic, Pampanga, Angels City and Clark Philippines log on to http://www.HotelClarkPhilippines.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.

http://www.ClarkWineCenter.com

---

If this article about Clark is useful to you, please click here to contact us to tell us what more you wish to know about this article or Clark Philippines, which can be something about Clark investment, about Clark resorts, about Clark Swimming and Leisure or simply general news about Clark.

---

Please send questions to Editor@ClarkPhilippines.com. Leave your name, email address, contact numbers and we will get back to you as soon as possible. Information received will not be disclosed.

---