UP to continue marine research

June 18, 2024 | 7:30 pm

PuertoGalera-corals-divers-DEPT-OF-TOURISM — DEPT. OF TOURISM

THE UNIVERSITY of the Philippines (UP) will continue conducting marine research in the South China Sea despite threats from China’s coast guard and militia chips, UP President Angelo A. Jimenez told reporters on Tuesday.

Chinese aggression won’t dissuade the state university’s research on marine resources in the disputed waterway, he said.

“We don’t want to surrender our research just because there is a conflict,” Mr. Jimenez said. “We will face the situation.”

China claims more than 80% of the South China including areas withing the Philippines’ exclusive economic zone. A United Nations-backed tribunal in the Hague voided its claim in 2016 for being illegal. — Kenneth Christiane L. Basilio

P1B released for water projects

June 18, 2024 | 7:29 pm

THE DEPARTMENT of Budget and Management (DBM) on Tuesday said it had released P1 billion to improve the country’s water and sanitation facilities.

Budget Secretary Amenah F. Pangandaman on June 7 signed the release of P1 billion for the construction, expansion and upgrade of water, sanitation and hygiene projects, it said in a statement.

The project seeks to fast-track access to safe water and sanitation services in 75 Philippine towns.

“By supporting the implementation of priority projects of local government units, we invest in the growth and well-being of our local communities,” Ms. Pangandaman said. “It’s our commitment to progress and prosperity.” — Beatriz Marie D. Cruz

Jayson Tatum, Celtics put away Mavericks for record 18^th crown

June 18, 2024 | 6:49 pm

NBA-Celtics — BOSTON CELTICS forward Jayson Tatum lifts the trophy after winning the 2024 NBA Finals against the Dallas Mavericks at TD Garden. — PETER CASEY/USA TODAY SPORTS/REUTERS

BOSTON — Jayson Tatum recorded 31 points and 11 assists as the Boston Celtics locked up their league-record 18^th championship with a 106-88 blowout of the Dallas Mavericks on Monday night in Game 5 of the NBA Finals.

Mr. Tatum also had eight rebounds while Jaylen Brown added 21 points, eight boards and six assists for Boston, which celebrated the 16^th anniversary of its most recent title by completing a 16-3 playoff run.

The Celtics knocked off the Los Angeles Lakers in the 2008 Finals, and those two teams shared the league record with 17 championships apiece before Monday.

Jrue Holiday had 15 points and 11 rebounds and Derrick White chipped in 14 points as Boston wrapped up the best-of-seven series on its second opportunity. Mr. Brown was selected the Finals Most Valuable Player after averaging 20.8 points, 5.4 rebounds and five assists.

Luka Doncic paced the Mavericks with 28 points and 12 boards, but he committed seven turnovers. Kyrie Irving finished with 15 points and nine assists for Dallas, and Josh Green netted 14 points.

After Dallas called a timeout with 3:11 left in the second quarter, trailing by 11 points, Boston completely broke the game open.

The Celtics scored 17 of the next 24 points, six of which came from Mr. Brown. Payton Pritchard capped the outburst in jaw-dropping fashion, canning a 49-foot heave from half-court at the buzzer to send Boston into the break with a 67-46 cushion.

Mr. Holiday’s layup pushed the Celtics’ lead to 78-52 with 9:10 to go in the third quarter. Mr. Green then converted a putback and knocked down a 3-pointer as part of a 10-2 run that got the Mavericks within 80-62.

Dallas later got the deficit down to 17, but Boston took an 86-67 lead into the fourth.

The Celtics were on top by at least 18 the rest of the way.

A three-point play from Mr. Tatum put the Celtics up 46-31 with 7:08 remaining in the first half, but Dallas then took over down low. The Mavericks scored all of their points in the paint during an 8-2 spurt to get within nine before Al Horford stemmed the tide with a hard-nosed layup.

Mr. Horford’s bucket came just before the Mavericks’ timeout that preceded Boston’s game-changing run.

Boston came to life in the final 1:39 of the first quarter, ripping off nine unanswered points to take a 28-18 lead into the second.

The Celtics wound up shooting 42.7 percent from the floor. Dallas shot 44.9 percent overall but was outscored by 10 points at the foul line and committed 13 turnovers to Boston’ nine. — Reuters

Manabat reinforces Choco Mucho Flying Titans in PVL

June 18, 2024 | 6:48 pm

IF PLANS don’t miscarry, Choco Mucho will have an added firepower and veteran presence in Dindin Manabat when it launches its campaign in the Premier Volleyball League (PVL) Reinforced Conference tentatively set next month.

“There is a big chance that we can have Dindin,” Choco Mucho coach Dante Alinsunurin told The STAR during the Collegiate Press Corps Awards Night at the Discovery Suites in Pasig City.

While the Flying Titans haven’t officially announced the acquisition of Ms. Manabat, there were sources confirming that it is already a done deal.

And that should boost an already loaded roster consisting of Sisi Rondina, Isa Molde, Maddie Madayag, Chery Nunag, Mars Alba, Deanna Wong and Royse Tubino among others.

Ms. Manabat has reported amicably settled with Akari team management for her to be released.

She last played for Akari and was moved to sister team Nxled last month where she will never be able to play following her departure.

Ms. Manabat’s arrival should also fill the void that will be temporarily left by Mmess. Rondina and Nunag, who may not play for their mother clubs this conference to focus on national team duties being Alas Pilipinas members.

This was confirmed by PVL President Ricky Palou, who said teams would have to do minus their players who are part of the Philippine squad.

Mr. Alinsunurin was hoping that they would be allowed to play if they’re not busy anymore.

The Reinforced Conference is tentatively scheduled July 16 but Mr. Palou said there’s a big chance it might be moved to Aug. 1. — Joel Villar

Meralco Bolts’ surprise package in Brandon Bates slowed down SMB big men

June 18, 2024 | 6:46 pm

WHEN Meralco arranged a title duel with San Miguel Beer (SMB), the big question then was: Can the Bolts’ frontline handle the great June Mar Fajardo?

Not backing down from this Kraken-sized challenge, Raymond Almazan, Brandon Bates, Cliff Hodge, Kyle Pascual and Norbert Torres resolutely responded with a superb effort game in and game out over six hard-fought matches.

Sure, seven-time MVP and 10-time Best Player of the Conference winner Mr. Fajardo got his points (23.17 per outing) and rebounds (13.5 per match), but there’s no greater validation of the Meralco frontcourt’s handiwork than the PBA Philippine Cup trophy it hoisted at the end of Game 6.

“I think everybody was on board as far as understanding how we would have to play defense,” said Meralco consultant Norman Black, whose primary task is to work with Mr. Almazan and Company to prepare for Mr. Fajardo and before him, Christian Standhardinger and Japeth Aguilar of Barangay Ginebra in the semis.

“We wanted to handle June Mar (Fajardo) in a certain way. We know we can’t stop him but we wanted to at least slow him down, if we could. Everybody’s great as far as how we wanted to get it done and we executed it very, very well,” he added.

With the bigs as anchor, triumphant Meralco battled Mr. Fajardo and frontcourt partner Mo Tautuaa toe to toe under the boards. The Bolts averaged 47.8 rebounds against the Beermen’s 47.7 and did a better job off the offensive glass, 16.2 versus 15.8.

Rookie Mr. Bates served as Meralco’s surprise package. The Fil-Australian logged 3.8 points, 6.17 boards, 1.83 block and 0.5 steal and produced many other intangibles in carrying out his duty as one of Meralco’s designated “Mr. Fajardo stoppers.”

“Let’s face it, Brandon (Bates) was really a (revelation). He did things we didn’t think he could do in this series. He really played very well for us. He has a very bright future ahead of him,” said Mr. Black of Mr. Bates.

“It was probably the most difficult thing I’ve ever done in my life,” Mr. Bates said. “Honestly, he’s one of the strongest guys I’ve ever played against. Having to guard him after Messrs. Standhardinger and Japeth, it was monumental. It was really difficult and my body is feeling it right now.”

Unlike vets Chris Newsome and Cliff Hodge who waited all their careers for a championship, Mr. Bates struck gold in only his second conference.

“It’s surreal. It’s like a movie. This time last year I was making coffee, up by four (in the morning). Now I’m a champion, no one can take that away from me,” he said with a big smile. — Olmin Leyba

Celtics set a new bar

June 18, 2024 | 6:46 pm

The Celtics are champions once more. Their aim to duplicate their brush with success at the turn of the previous decade — a multi-year effort spanning the dispensations of both Danny Ainge and Brad Stevens — has culminated in a definitive rise to the top. That they have managed to hoist the Larry O’Brien Trophy anew 16 years to the very day it was last in their hands serves to make the journey even more compelling. And that they have done so on the strength of a young — and, notably, committed and secure — roster keeps them competitive for the foreseeable future.

Indeed, the Celtics cannot but begin the next season as title favorites. They first came close to taking the hardware two years ago, only to follow it up with elimination in the East Finals. But if there was one good thing to come out of their seeming regression, it was that they greeted their 2023-24 campaign with purpose. They were ready and able from the get-go, with their pace-setting slate underscoring their ascendant run heading into the playoffs. They then continued to stamp their class; outside of a handful of missteps, they showed all and sundry that they deserved their crowns without any fine print.

Not that the Celtics do not have their fair share of detractors. The biggest knock on their 18th banner is the supposed strength — or, to be more precise, lack thereof — of the competition they faced en route. They got to avoid the Sixers, hobbled by an injury to perennial Most Valuable Player candidate Joel Embiid. They overcame the handicapped Heat, with proven postseason stalwart Jimmy Butler in the sidelines. They then overcame the overmatched Cavaliers and Pacers, who had to take their measure without top dogs Donovan Mitchell and Tyrese Haliburton, respectively, for parts of the two best-of-seven affairs.

Still, the Celtics have all the reasons to celebrate. For all the rattling of the naysayers, there can be no doubting that they dominated all those standing in their way. They fought the fights that were before them, and they emerged from those battles with nary a scar. They were that good — so good, in fact, that it’s fair to say they would have prevailed in any case, regardless of the quality of the opposition. And they asserted their preeminence on both sides of the court — with a unique blend of talents that maximizes their five-out offense and enables them to switch at will on defense without any matchup disadvantage.

Were the Celtics fated to win? Perhaps. What’s clear, though, is that they can only get better from here on. Having now experienced the thrill of victory after the agony of defeat, they understand exactly what excellence asks of them. And far be it from them not to deliver accordingly. They’ve set a new bar. It’s up to the rest to meet it.

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

CARD Pioneer book celebrates Nanays in PH microinsurance journey

June 18, 2024 | 5:30 pm

image1-OL — Covering Nanay authors and microinsurance champions with our CARD Pioneer Microinsurance Nanays. From left to right: authors Pia Yupangco and Dr. Aristotle Alip, Nanays Reynalyn Velasquez, Lota Siasat, and Mary Jane Galleno, with author Lorenzo Chan, Jr.

The word “Nanay” which means “mother” in English has a deeper meaning in the Filipino culture beyond its literal translation. A “Nanay” is considered the beacon of unconditional love and utmost care that shines the brightest in the Filipino household.

Unknown to many, this same maternal light has been illuminating the microinsurance industry in the Philippines through CARD Pioneer Microinsurance, Inc. (CPMI). Its radiance has now been sighted globally because of the collective dedication and drive of the Nanays.

CPMI recently launched the book, “Covering Nanay: The Philippine Microinsurance Journey,” a testament to the invaluable partnership between CARD MRI and Pioneer Insurance, and the Nanay agents. This book narrates how CPMI, with the Nanays at its core, transformed the Philippine microinsurance industry into a global benchmark for financial inclusion.

Covering Nanay talks about CARD, Pioneer and CPMI’s path from ground zero to nearly 24 million enrolments at last count.

The book is authored by CPMI founders — Dr. Aristotle Alip, CARD MRI founder; and Lorenzo Chan, Jr., Pioneer Group Head — together with Pia Yupangco.

The Origin of CARD Pioneer Microinsurance, Inc. (CPMI)

Established in 2013, CPMI is a joint venture between the Center for Agriculture and Rural Development Mutually Reinforcing Institutions (CARD MRI) and Pioneer Insurance. It is the country’s first non-life company specifically created to address health and accident, damage to property and agriculture as well as income loss arising from fire, calamity and other climate-related challenges of the low-income sector.

Chan, who also the Chairs the Luxemburg-based global multi-stakeholder organization known as the Microinsurance Network, reiterated their passion during the book launch of the desire to address the protection gap by bringing insurance to those who need it most. He got the idea for microinsurance when he noticed the numerous sachet products being sold in sari-sari stores in Palawan.

“I said to myself, ‘Why not offer insurance in sachet form, in bite-sized affordable chunks for the underserved and unserved who need it the most?’ We are fortunate to find the perfect partner in CARD MRI through Dr. Alip,” Chan said.

Under Dr. Alip’s leadership, CARD MRI was the recipient of the Ramon Magsaysay Award for Public Service in 2008. Dr. Alip said that the origin of CARD Pioneer is a tale about disrupting the conventional ways of the insurance industry.

“The key in addressing the protection gap is to disrupt the normal time frame in releasing insurance claims by targeting 1-3-5 which is ideally one (1) day to pay the policy holder, three (3) days if there is need to address any possible issues, and maximum of five (5) days to release the payout or decline. This was next to impossible for insurance companies at that time, but Pioneer agreed to implement this disruptive process,” Dr. Alip said.

Dr. Alip said that the execution of 1-3-5 was crucial in gaining the trust and confidence of the Nanays to prove that they can get their benefits as fast as possible during a time of need.

“We recruited Nanays to offer microinsurance to other Nanays in communities with the promise of delivering 1-3-5. When the Nanay policyholders saw that Pioneer and later CPMI were really committed in fulfilling 1-3-5, word started to spread and we won the trust and confidence of the Nanays and their clients,” he said.

The Microinsurance Nanays

Yupangco, one of the book’s authors and former Pioneer executive shared, “Writing this book gave me hope for the country, knowing that there are businessmen who are persistent in finding a way to empower the underserved, and the women who have seen the wisdom of insurance, and are changing lives by giving their communities access to it.” She introduced the stories of three of the several Nanays featured in the book: Lota Siasat, Mary Jane Galleno, and Reynalyn Velasquez.

The three Nanays then took turns reading excerpts of their stories from the book during the launch held at The Studio, Fully Booked in Bonifacio Global City (BGC).

Siasat shared what motivates her, “When I wake up in the morning, my first thought is about how to help my Microinsurance Coordinators (MiC) because I want to be an inspiration to them. I tell them that they might just go beyond being an MiC, that they might one day be a Microinsurance Supervisor like me and experience how to earn and how to help others.”

Galleno narrated the value of financial protection in times of need with reference to a client’s family. “When the bereaved husband flew back home, he was surprised to learn that because of his wife’s insistence on taking out the coverage in secret, the family could claim substantial benefits. The husband was so thankful because their money had been drained by the hospital bills and they hardly had any more left for the funeral service.”

Velasquez recounted a claim story, “My decision to continue pursuing this career is not based wholly on incentive but respect. That respect comes from grateful families who have benefitted from CPMI coverage, including that of a member’s husband who first turned down Kabuklod and CARD Care coverages. As a construction worker on a per-project basis, he felt it was an extra expense he couldn’t afford. But because I patiently took him through the advantages of the policies, he finally enrolled. Six months later, he died in an accident. The family was able to claim sixty thousand pesos and they were grateful because they did not have to borrow money for burial expenses and still had some funds left to support them as they started a new life without him.”

Covering Nanay: The Philippine Microinsurance Journey has joined the best-seller list and is available in select Fully Booked outlets.

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Social media apps need health warnings for teens — US official

June 18, 2024 | 5:05 pm

WASHINGTON — US Surgeon General Vivek Murthy on Monday called for a warning label to be added to social media apps as a reminder that those platforms have caused harm to young people, especially adolescents.

In an op-ed in the New York Times, Murthy wrote that a warning label alone will not make social media safe for young people but that it can increase awareness and change behavior as shown in evidence from tobacco studies. The US Congress would need to pass legislation requiring such a warning label.

Youth advocates and lawmakers have long accused social media platforms like Facebook, Instagram, TikTok and Snapchat of what they say is a harmful effect on kids, including shortened attention spans, promoting negative body images, and making them vulnerable to online bullies and predators.

“It is time to require a surgeon general’s warning label on social media platforms, stating that social media is associated with significant mental health harms for adolescents,” Mr. Murthy wrote on Monday.

TikTok, Snap and Meta Platforms, owner of Facebook and Instagram, did not respond to requests for comment.

The chief executive officers of those three companies, along with social media platform X and messaging app Discord, were grilled by US senators in January during a hearing about online child safety, with Republican Senator Lindsey Graham accusing the leaders of having “blood on your hands,” for failing to protect young users from sexual predators.

Some US states have been working to pass legislation to safeguard children from the harmful effects of social media, such as anxiety, depression and other mental illnesses as a result.

New York state lawmakers this month passed legislation to bar social media platforms from exposing “addictive” algorithmic content to users under age 18 without parental consent.

In March, Florida Governor Ron DeSantis signed a bill that bans children under 14 from social media platforms and requires 14- and 15-year-olds to get parental consent. — Reuters

Hong Kong says stock market to stay open during typhoons

June 18, 2024 | 5:03 pm

China-buildings — AN EVENING view of the financial central district of Hong Kong, China, Oct. 3, 2023. — REUTERS

HONG KONG — Hong Kong’s stock market will stay open during typhoons and heavy rain effective Sept. 23, a change that will help maintain the global financial hub’s competitiveness, city leader John Lee said on Tuesday.

Mr. Lee, who made the announcement during a weekly press conference, said the move was in line with other cities and widely supported by traders and banks.

Dickie Wong, executive director of research at Kingston Securities, said there was already market consensus on the rollout of the new measure to allow trading under extreme weather.

“I don’t think this measure will greatly help the market sentiment or trading volume,” Mr. Wong said, adding he is neutral on the measure.

“The market is now more concerned about whether the (Hong Kong-mainland) Stock Connect program can be expanded to include more companies, such as Alibaba. These measures are more important for Hong Kong stock market,” Mr. Wong added. — Reuters

Former PM Thaksin indicted as Thai court cases raise risk of political crisis

June 18, 2024 | 4:59 pm

INFLUENTIAL former Thai Prime Minister (PM) Thaksin Shinawatra, a powerful backer of the ruling government, was granted bail by a court on Tuesday, avoiding pre-trial detention for allegedly insulting the monarchy in a 2015 interview.

The billionaire sought bail from the Criminal Court of Thailand soon after the Attorney-General had formally charged him under Thailand’s lese-majeste law, which carries a maximum jail sentence of up to 15 years for each perceived royal insult.

Mr. Thaksin denies the charges against him.

“The court has released Thaksin on bail of 500,000 baht ($13,600) under the condition that he is prohibited from leaving the country unless granted permission,” a court statement said.

A former policeman who went into the telecoms business and then entered politics, Mr. Thaksin returned to Thailand last year after 15 years in self-imposed exile following his ouster from power by a military coup. Mr. Thaksin’s is the first of four high-profile cases involving key political players that are before the courts on Tuesday, in the latest legal wrangling that could see Southeast Asia’s second-largest economy plunged into a new period of uncertainty.

The cases involve some of Thailand’s most powerful politicians, including its current prime minister, and could deepen a decades-old rift between the conservative-royalist establishment and its opponents, such as the populist ruling Pheu Thai party and the opposition Move Forward party.

The Constitutional Court will conduct a hearing in a case lodged by a group of senators that could potentially see Prime Minister Srettha Thavisin dismissed from office for breaching the law in appointing a lawyer with a conviction record to his cabinet.

The same court will also hear a case seeking to disband the popular opposition Move Forward Party for their campaign to amend the royal insult law, following a complaint by the Election Commission.

The court is expected to announce the next hearing or verdict date for cases involving Srettha and Move Forward on Tuesday.

The Constitutional Court will also rule whether the ongoing selection process for a new upper house, which started earlier this month and is scheduled to conclude in early July, is lawful.

If the court cancels or delays the process, it would temporarily extend the term of military-appointed senators who have a played crucial role in the formation of the previous government.

“The political parties and representatives that voters have chosen are being systematically and repeatedly stymied,” Thitinan Pongsudhirak, a political scientist at Bangkok’s Chulalongkorn University, told Reuters.

A single petition can bring down a sitting, elected government or oust a prime minister, he said, outlining the power of the country’s courts.

“There’s a judicial assertiveness that has been damaging to Thailand, subverting popular will and popular mandates.”

Such tensions have previously triggered violent street protests, dissolutions of political parties, airport closures and military coups that have hamstrung the economy. — Reuters

Taiwan keeping watch after Chinese submarine surfaces in Taiwan Strait

June 18, 2024 | 4:58 pm

TAIPEI — Taiwan’s defense minister said on Tuesday that they have a “grasp” of the situation after pictures appeared online of a Chinese nuclear submarine surfacing in the sensitive Taiwan Strait near Taiwanese fishermen.

The narrow strait that separates Taiwan from China is a frequent source of tension. Taiwan reports Chinese warplanes and warships operating there on a daily basis, as Beijing seeks to assert its sovereignty claims against the democratically governed island.

Taiwanese media published the pictures of the surfaced craft, which appears to be a nuclear-armed Jin class ballistic missile submarine, taken by a Taiwanese fishing boat in the strait as dawn broke on Tuesday, about 200 km (125 miles) from Taiwan’s western coast.

Asked about the submarine, Taiwan Defense Minister Wellington Koo said they have a “grasp” of the intelligence situation, but declined to say how they were monitoring it or give details.

China’s defense ministry did not immediately respond to a request for comment.

Nuclear-powered submarines can operate underwater for months at a time, and ballistic-missile boats’ secretive mission means they rarely surface.

A security source familiar with the situation told Reuters that the submarine was most likely returning to its home port in Qingdao from the South China Sea. The source said Tuesday’s incident might have been because it experienced a malfunction and was forced to surface.

The source spoke on condition of anonymity given the sensitivity of the situation.

Military experts say the strategic waters off Taiwan’s southwestern shores, where the largely shallow Taiwan Strait descends in depth, provide submarines a location for an ambush, making it a hot spot for militaries including China, Taiwan and the United States.

Ballistic missile submarines are not designed to attack ships, but to launch ballistic missiles at targets on land.

Taiwan’s fleet of P-3C Orion anti-submarine aircraft are based at the Pingtung air base in southern Taiwan, giving easy access to the southern part of the strait.

Taiwan has complained in recent years that China has been using so-called grey zone warfare designed to exhaust a foe without resorting to open combat, such as flying surveillance balloons over the island.

“We must be fully alert to China’s continued military harassment and grey zone threats and must always understand China’s constant salami-slicing attempts to unilaterally change the status quo,” Mr. Koo said.

“We must be alert at all times, but not panic nor be apathetic, and calmly deal with the situation in the strait,” he added. “We won’t be the one provoking, and call on China not to be a troublemaker.”

Taiwan detected 20 Chinese military planes and seven vessels around the island in the past 24 hours, Taiwan’s defense ministry said in its daily report on Chinese military activities on Tuesday morning. — Reuters

Pag-IBIG Fund releases P22.63-billion cash loans from January to April 2024, up 38%

June 18, 2024 | 4:45 pm

Pag-IBIG-Fund-Petron-Mega-Plaza-Branch--OL — Pag-IBIG Fund Petron Mega Plaza Branch

From January to April 2024, Pag-IBIG Fund released P22.63 billion in cash loans, benefiting 965,291 members, according to agency officials. This is a 38% increase over the P16.44-billion releases in the same period of 2023, assisting nearly 200,000 more members than the previous year’s 766,258.

“We are happy that Pag-IBIG Fund continues to serve as a reliable partner of the Filipino workers in their times of financial need. We are fully committed to President Ferdinand Marcos, Jr.’s call to help uplift the lives of the Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Adding to the range of services, the agency introduced the Pag-IBIG Health and Education Loan Programs (Pag-IBIG HELPs) earlier this year. This program is designed to support members with their health and educational expenses by partnering with various schools and hospitals. Loans approved under HELPs are directly credited to the accounts of the partner institutions, and members can enjoy discounts on their total bills when using this service.

Pag-IBIG Fund’s Short-Term Loans, comprising the Multi-Purpose Loan (MPL) and Calamity Loan, allow qualified members to borrow up to 80% of their total Pag-IBIG Regular Savings. This includes their monthly contributions, their employer’s contributions, and accumulated dividends. Borrowers have the option of a 24- or 36-month repayment term and benefit from a two-month grace period before the first payment is due.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile noted, that with the new mandatory monthly contribution rates of P200 for both the employees and employers, members can now avail of higher cash loans for their financial needs.

“Now that our members are saving more with Pag-IBIG, we assure that they will gain access to bigger and better benefits, such as higher cash loans under our Short-Term Loans, which we believe will be more helpful for their financial needs. We also do not charge processing fees, so they can make full use of their loans as intended. This is our commitment to them, that we will always be their financial ally,” Acosta said.

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