Lawmaker seeks probe on GSIS housing loan woes

July 12, 2011
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.

Best Restaurant in Clark Pampanga unveils regional dinner menu featuring the classic cuisine of Italy, all designed to pair nicely with fine vintage wines from Italy’s wine regions such as Tuscany, Piedmont, Veneto and Sicily, one more reasons for food and wine lovers to travel to Angeles City, Clark Philippines to satisfy their thirst for a wonderful meal at a fine dining restaurant, the best place to eat in Pampanga.

The new regional set menus rolled out recently by the best restaurant in Clark Pampanga stirred up renewed interest among visitors from Manila for real fine dining treat in Clark Pampanga as wine lovers from Subic, Tarlac, Manila, Angeles City, Clark Pampanga Philippines wine and dine at Yats Restaurant to enjoy good food paired with fine vintage wines from the wine cellars of this highly recommended resto bar in Pampanga

Visitors come from Manila, Angeles City, Pampanga, Subic and Clark Philippines to enjoy a sumptuous seafood dinner at Yats Restaurant. Many guests order excellent white wine from the award-winning restaurant wine list of this famous fine dining restaurant in Clark. Favorite wine orders for guests in this restaurant include Chablis, Chassagne-Montrachet, Sancerre, Chardonnay of Chile’s Casa Lapastolle, Sauvignon Blanc from New Zealand and South Africa, Rose from Anjou, Pinot Noir from USA and Burgundy France and the all-time favorite, Meursault. A wide range of sparkling wine and Champagne is available also in this restaurant in Pampanga which is famous for its selection of vintage wines. Popular choices of guests in this restaurant include Paul Bara Champagne, Crement de Bourgogne, MUMM Cuvee Napa Sparkling wine, Prosecco and Cava.

For comments, inquiries and reservations click on Click here for inquiry and reservations

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Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.

Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023

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To buy wine in Manila, Pampanga, Angeles City, Clark or Subic please log on to http://www. ClarkWineCenter.com

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Mimosa Golf Estate, Clark Field (Clark Airbase), Clark Freeport Zone, Pampanga, Philippines
Tel: (045) 599-5600 0922-870-5194 0917-520-4401 Ask for Daniel, Lito or Cosh

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