INVESTING some $20,000 in the Philippine government’s Pag-Ibig program earned Raul C. Ascano not only profits, but also a recognition plaque for his “unwavering support.”
Yesterday, Ascano was presented his plaque at the Philippine Consulate General by visiting home development mutual fund manager for Asia Pacific, Vincent N. Nery.
“He has shown an unwavering support to Pag-Ibig through his investment. We do acknowledge that,” Nery said.
Ascano, a chief technician at the Commonwealth Ports Authority for the past 12 years, said he purchased Pag-Ibig housing bonds last November.
Compared to regular banks, Ascano said, Pag-Ibig offers a higher tax-free interest rate of 8 percent per annum.
“When you save in banks, you’d only get a very minimal interest. So I found this program very good. By investing here, I can also help the Philippine government,” Ascano said.
Ascano was one of the few Filipinos in the CNMI who were able to buy bonds in a two-week offering in Nov. 2001.
Lynell F. Fulgencio, CNMI-Pag-Ibig officer, said people can now avail themselves of the investment opportunity again.
A plan holder also qualifies for a semi-annual raffle draw which has two brand new housing units as give-aways.
A raffle ticket will be given to the person for every minimum investment of $5,000.
After six months, the holder receives half of the annual interest of the total investment.
Based on the guideline, the holder gets the total amount after five years.
Nery encouraged the Filipino community to get listed and purchase the bonds.
