Pag-IBIG clarifies Laurasia report

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We would like to clarify the report set out in Erwin Tulfo’s January 29, 2014 column “Dead Shot,” which also appeared in Tagalog his column “Under Fire” in Tonight, regarding the alleged awarding of a P30 billion housing project by Pag-IBIG Fund to Laurasia Realty Corp.

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The report is wholly inaccurate and untrue.

Our records will show that Pag-IBIG Fund has not entered into any contract or agreement with Laurasia in respect of the P30B project.
Our records will further show that Pag-IBIG has no existing funding allocation extended to Laurasia, and that Pag-IBIG has not granted any institutional loan to this company.

Insofar as the AFP/PNP Housing Project in Pagadian City is concerned, Pag-IBIG has not released any loan proceeds for even a single unit for this housing project.

In this connection, we would like to take this opportunity to ask your assistance in providing us a snapshot of the alleged use of Pag-IBIG’s name in Laurasia’s website, as our efforts to access their website (www.laurasia.com.ph) were unsuccessful.

If indeed Laurasia used Pag-IBIG Fund’s name in their website to mislead the public, rest assured that we will have the matter studied by our legal department and we will file appropriate charges against the wrongdoers in the proper venue.

In closing, we would like to assure you and your readers that Pag-IBIG Fund has put in place prudent measures to ensure the correctness of the release of the funds to developers, as we are fully committed to ensuring that the money entrusted to us by our members are utilized appropriately and only upon our strict control mechanisms.

Atty. Joan A. De Venecia
Vice President
Public Relations and Information Services Group
Pag-IBIG Funda

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