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Pag-ibig Hanggang Wakas
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: ''Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno''), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable shelter financing for Filipinos. History Pag-IBIG Fund was founded by virtue of Presidential Decree No. 1530 which was signed by President Ferdinand E. Marcos on June 11, 1978, to answer the national need for savings program and affordable housing financing. Its original purpose was solely as a provident fund to encourage savings among Filipinos. By March 1979, the fund was administered by the National Home Mortgage Finance Corporation (NHMFC), a government corporation mandated to increase availability of housing loans to Filipino workers. By June, HDMF was implemented by virtue of Execut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned And Controlled Corporation
In the Philippines, a government-owned and controlled corporation (GOCC; ), sometimes with an "and/or", is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees. There are 219 GOCCs as of 2022. GOCCs both receive subsidies and pay dividends to the national government. A government-owned or controlled corporation is a stock or a non-stock corporation, whether performing governmental or proprietary functions, which is directly chartered by a special law or if organized under the general corporation law is owned or controlled by the government directly, or indirectly through a parent corporation or subsidiary corporation, to the extent of at least a majority of its outstanding capital stock or of its outstanding voting capital stock. Under the GOCC Governance Act (Republic Act No. 10149), GOCCs are overseen by the Governance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
