Deferred loan payment for victims of flood OK'd

In a bid to ease the burden on those whose houses were damaged by tropical storm “Ondoy" while keeping the economy going at the same time, government will allow deferred payments for housing loans for one year, President Arroyo said Saturday. Mrs. Arroyo said she had discussed the matter with Social Security System (SSS) president Romulo Neri and Government Service Insurance System (GSIS) president Winston Garcia. “(Qualified SSS and GSIS members) will have a higher take-home pay if they don’t have to pay for one year," she said on government-run dzRB radio. She said she also talked to Vice President and housing czar Noli de Castro about a P150,000 incremental home improvement loan of for eligible Pag-IBIG Fund members. The loan will be for Pag-IBIG Fund members whose houses “Ondoy" had damaged. Both loans aim to keep liquidity, investments, and consumption spending going despite the big losses from “Ondoy," Mrs. Arroyo said. She noted that if 150,000 people avail themselves of the P150,000 Pag-IBIG loan, it will mean some P15 billion for the economy. On the other hand, Mrs. Arroyo said Health Secretary Francisco Duque III will advance the equivalent of up to three months’ reimbursements to health institutions. “He will advance to health institutions the three-month average of historical reimbursements, they have been doing for three months," she said. A Malacañang statement said the Department of Health (DOH) will allow private hospitals damaged by "Ondoy" to use three months' worth of income from collections of Philippine Health Insurance Corp. (Philhealth) to repair these facilities and equipment. "Let us wait for the technical evaluation to be conducted by the DoH on their damaged facilities. If these facilities and equipment cannot be repaired, the DoH will decide if it can intervene in their importation of new machineries," said Health Secretary Francisco Duque III. Duque admitted that many government hospitals suffered heavy damages from "Ondoy," citing the Amang Rodriguez Medical Center in Marikina and San Lazaro Hospital in Manila. Duque said prices of basic medicines and medical supplies have remained stable since the Cheaper Medicines Act was implemented last Aug. 15. - GMANews.TV Meanwhile, Mrs. Arroyo said the government will continue to work aggressively for growth and jobs despite the devastation caused by “Ondoy." “We will continue our economic resiliency program," she said. She said there will be “new infrastructure to invest in" because of the repair and rehabilitation work needed, especially the “shovel-ready" kind. The government will also continue to work with the private sector, which she said will retaining their low interest rates. Mrs. Arroyo also said Trade Secretary Peter Favila, the government’s representative to the Monetary Board, will formally present Monday her recommendation for a five-year special rediscounting window for banks to refinance loans to individuals, entrepreneurs and small businesses. On the other hand, Mrs. Arroyo said flood control projects and improvements to weather forecasting will continue. She said she expects the flood control project in northern Metro Manila (Caloocan-Malabon-Navotas-Valenzuela) to be completed by yearend, and the river-dredging at the Pasig-Marikina are in about three years. Also, she said government has to reforest the watersheds, particularly in Antipolo City. Mrs. Arroyo also said the government already has one Doppler radar operational, in Baler (Aurora). One is undergoing testing in Baguio, while those to be installed in Subic and Tagaytay are to be ready by end-2010. Another two in Surigao del Sur and South Cotabato are to be ready by early 2010, while more radars in Virac (Catanduanes), Aparri, and Guiuan (Samar) will be ready late 2010, she said. - GMANews.TV