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Planned privatization of 2 housing programs hit.
(From Philippine Daily Inquirer)
Byline: Carlito Pablo
EMPLOYEES of the National Home Mortgage and Finance Corp. have sought the help of Congress to stop the supposed ongoing efforts of Malaca[currency]ang to privatize the two flagship socialized housing programs of the government.
Home Mortgage Employees Association Inc. president Miguel Maga Jr. informed the House committee on housing and urban development that a "few rent-seeking nongovernment organizations" were behind the move to strip the management of the Community Mortgage Program (CMP) and Abot Kaya Pabahay Fund (AKPF) from the NHMFC.
While Maga did not identify the NGOs, he noted that the two programs were being transferred to a new entity called the Social Housing Finance Corp. (SHFC).
"Malaca[currency]ang is hell-bent on privatizing the agency to satiate the interests of a few pressure groups [to] which the President has standing political debts," Maga said.
He pointed out that the CMP and AKPF were created by Congress under Republic Acts 7279 and 6846, as amended by RA 7835, respectively, ...
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