Loan Moratorium on SSS, Pag-IBIG, NHMFC, LandBank, DBP Urged

PASAY CITY — Senator Mark A. Villar has filed Senate Resolution No. 366, calling on government financial institutions and service agencies to extend temporary financial relief to Filipinos struggling with rising fuel prices and higher living costs amid the ongoing energy crisis.

The resolution urges institutions such as the Social Security System (SSS), Pag-IBIG Fund, National Home Mortgage Finance Corporation (NHMFC), LandBank of the Philippines, and the Development Bank of the Philippines (DBP) to implement measures including loan moratoriums, grace periods, penalty condonation, and more flexible payment arrangements.

Villar said the proposal aims to give immediate relief to workers and families burdened by the current economic strain.

“Dapat nating bigyan ng agarang ginhawa ang ating mga kababayan. Ang pansamantalang suspensyon ng bayarin at pagtanggal ng penalties ay malaking tulong upang makabangon sila sa gitna ng krisis,” he said.

Under the resolution, Villar proposed a one- to three-month loan moratorium, condonation of penalties, loan restructuring, reduced interest rates, and faster approval of calamity or emergency loans with built-in grace periods. He said these measures were modeled after earlier emergency responses designed to prevent loan defaults and support economic recovery.

“Naging matagumpay po ang implementasyon natin nito sa Bayanihan to Recover as One Act, at nakita natin ang positibong impact nito sa matagumpay na implementasyon ng Balik Ginhawa ng GSIS, accomplishing the end goal of providing cash relief to eligible members and pensioners,” Villar added.

The senator noted that the SSS is already studying the possibility of implementing loan moratoriums and penalty condonation, while the Bangko Sentral ng Pilipinas is also moving to freeze loan penalties for affected borrowers.

If adopted, the measure is expected to provide immediate financial relief to borrowers while safeguarding the financial stability of government-owned and controlled corporations (GOCCs) and other state financial institutions.

“Hindi natin alam kung kailan ang hangganan ng krisis na ito. Kaya dapat magtulungan at magbayanihan tayo. Higit sa lahat ay ibigay natin sa taumbayan, lalo na sa mga manggagawa, ang tulong o assistance na makakapagbigay-ginhawa sa kanila,” Villar said.