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Govt plans to build .5M houses by 2028
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By Samuel P. Medenilla & Bless Aubrey Ogerio
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HE government plans to build 500,000 new houses by 2028 as part of its nationwide effort to provide affordable homes and reduce the number of squatters or informal settlers, the National Housing Authority (NHA) said. More than 100,000 units have already been completed, with ongoing projects including low-rise and mid-rise buildings in major cities and provinces. The target forms part of the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, the Marcos administration flagship housing initiative. “For this term, our target is to
This year, Fortune Life Insurance Company marks its 14th Values Advocacy Program, in partnership with the Department of Education (DepEd) and Marylindbert International. In today’s awarding ceremony at I'M Hotel Makati, the Amb. Antonio L. Cabangon Chua Gintong Parangal para sa Edukasyon honors 18 outstanding leaders, educators, and non-teaching personnel of DepEd, a testament to Fortune Life's unwavering commitment to instilling values and promoting excellence in education.
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build at least 500,000 housing units. We’ve already completed more than a hundred thousand, and construction is ongoing,” NHA general manager Joeben Tai said in a mix of English and Filipino on the sidelines of the National Housing Expo 2025 on Thursday in Pasay City. With the government’s expanded housing program, President Ferdinand Marcos Jr. said even lowincome earners will now be able to afford to buy homes through the financial support from the Home Development Mutual Fund also known as Pag-IBIG Fund. The initiative is expected to help reduce the country’s number of informal settlers, which the National Housing Authority (NHA) said is at 1.5 million.
“Through the Pag-IBIG Fund, affordable housing loans can now be obtained, including the offer of a three percent interest rate per year for our low-income countrymen,” the chief executive said in Filipino in his speech during the National Housing Expo 2025. The Housing Expo is the first to be sponsored by the government to promote the joint initiatives of the government, private sector, and stakeholders to address the country’s housing shortage. A total of 51 contractors participated in the event, held during the ongoing celebration of National Shelter Month. Tai said the agency is focusing its programs on Filipinos who cannot qualify for Home Development Mutual (Pag-IBIG) Fund loans,
particularly those earning below P15,000 a month. The government estimates that around 1.5 million families still live as squatters nationwide. The Pag-IBIG Fund, which organized the two-day expo, said more than 30,000 potential homebuyers registered for the event. It featured more than 50 private developers offering over 100,000 brand-new homes under Pag-IBIG’s housing loan program and 30,000 acquired assets at discounts of up to 40 percent. Alongside the NHA, other key shelter agencies showcased their respective programs, such as the Social Housing Finance Corporation’s Enhanced Community Mortgage Program and the National See “Govt,” A2
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NG’S BUDGET GAP HITS ₧1.117T FOR 9 MONTHS www.businessmirror.com.ph
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Friday, October 24, 2025 Vol. 21 No. 16
P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto @reine_alberto
HE national government’s budget deficit expanded to P1.117 trillion as of the end of September, but still came in lower than the fiscal program. Latest data from the Bureau of the Treasury (BTr) showed the shortfall increased by 15.15 percent to P1.117 trillion from January to September this year, from P970.2 billion in the same period last year. Despite the wider gap, it remained 11.04 percent below of the government’s deficit target of P1.255 trillion for the ninemonth period. Revenues collected reached
P3.366 trillion in the third quarter, up by 2.24 percent from P3.292 trillion a year ago. However, this was marginally lower by 0.55 percent from the P3.385-trillion revenue goal set by the government. Expenditures, meanwhile, grew by 5.18 percent to P4.484 trillion from the P4.263 trillion recorded in the third quarter last year. This figure is also lower than See “NG’s,” A2
CHARGED UP: BYD UNVEILS EMAX9 AT PEVS From left: James Ng, General Manager for BYD Philippines, Singapore, and Brunei; Adam Hu, Country Head of BYD Philippines; and Bob Palanca, Managing Director of BYD Cars Philippines, at the launch of the BYD eMAX 9 DM-i during the 13th Philippine Electric Vehicle Summit (PEVS) at the SMX Convention Center Manila, Pasay City. The eMAX 9 DM-i, BYD’s most luxurious model to date, boasts a 1.5-liter turbocharged hybrid engine and a 36.6kWh Blade Battery, offering a combined range of up to 1,000 kilometers. With the theme “Charge Ahead, Ignite the EVolution,” the summit on October 23 and 24 brings together policymakers, industry leaders, experts, and advocates to discuss the future of electric mobility in the Philippines. A concurrent exhibit running until October 25 showcases EV models, charging technologies, and related innovations, providing attendees a comprehensive view of the country’s growing EV ecosystem. NONIE REYES
FUEL-DRIVEN VEHICLES SALES DIP, E-VEHICLES KEEP GROWING By Andrea E. San Juan
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LIGHTING UP THE SEASON Have a MOA Christmas in front of the 65-foot Christmas tree
at SM Mall of Asia. Lighting up the Christmas tree are (L-R) SM Mall of Asia Senior Assistant Vice President for Operations Perkin O. So, SM Engineering and Design Development President Hans T. Sy, Jr., Jose Mari Chan, Santa Claus, SM Supermalls Assistant Vice President for Marketing and Leasing Hanna Carinna T. Sy, and Pasay City Vice Mayor Mark Anthony A. Calixto. SM SUPERMALLS
@andreasanjuan
ALES of vehicles powered by fuel slightly declined in the January to September 2025 period amid “evolving market dynamics” as electric vehicles continued their upward momentum, according to the Chamber of Automotive Manufacturers Association of the Philippines, Inc. (CAMPI). A joint report by Campi and the Truck Manufacturers Association (TMA) showed that 343,410 units of vehicles were sold in the nine-month period, a 0.3-percent contraction from
the 344,307 vehicles sold in the same period a year ago. In a statement on Thursday, CAMPI President Rommel R. Gutierrez said “The September results reflect the industry’s adaptability and commitment to innovation.” “As we continue to embrace electrification and expand commercial mobility solutions, we remain optimistic about closing the year on a high note,” added Gutierrez. For September 2025 alone, the CAMPI-TMA report indicated that vehicle sales plunged by 3.8 percent to 38,029, compared See “Fuel-driven,” A12
₧3B sought from govt for coffee programs By Ada Pelonia
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@adapelonia
HE government should allocate P3 billion from the competitiveness enhancement measures fund (CEMF) to bankroll programs for the local coffee sector in 2026, according to industry leaders. Sources, however, called for the revision of the coffee industry roadmap set to end this year, since it would serve as a “basis for funding.” Philippine Chamber of Agriculture and Food Inc. (PCAFI) President Danilo Fausto said the current balance of CEMF at the end of last year stood at P5.16 billion. “We need to access that money
because 60 percent of that money is collected from the tariffs of coffee that should be flown back to the industry,” Fausto told reporters on the sidelines of the 1st Philippine Coffee Sustainability Congress organized by the Philippine Coffee Board (PCB) in Makati City on Thursday. “But the fund can only be accessed if it is included in the GAA [General Appropriations Act],” he added. Under the 2026 National Expenditure Program (NEP), the CEMF was allocated only P25 million, or a tenth of the P250 million allotted in the previous NEP. In the 2025 GAA, the fund is at P1.25 billion. See “P3B,” A12
PESO EXCHANGE RATES n US 58.3400 n JAPAN 0.3841 n UK 77.9306 n HK 7.5072 n CHINA 8.1892 n SINGAPORE 44.9738 n AUSTRALIA 37.8568 n EU 67.7561 n KOREA 0.0407 n SAUDI ARABIA 15.5561 Source: BSP (October 23, 2025)