GSIS top brass to work for amendment of loan policy

By Paulo DS. Papa

JOSE Arnulfo Veloso, president and general manager of the Government Service Insurance System, bared last Friday, Nov. 11, that the existing policy on calamity loan has been set to undergo certain amendments.

The plan, according to him, needs to be undertaken to allow the members of the System to avail the loan even without the declaration of state of calamity by the President of the Republic of the Philippines.

The GSIS lends P20,000 to P40,000 to its active members affected by calamities or residing in areas declared by the president under state of calamity.

The loan policy permits active GSIS members affected by calamities such as typhoons and earthquakes to borrow funds provided that he/she is living within the area declared as calamity zone.

Veloso, in a press conference here said that he will see to it the existing policy be immediately amended under his term.

“It is normal for every human being to look for some money that will be spent for the repair of his/her home right after a devastating calamity especially if that person has a family that needs to be sheltered,” he said.

He said that waiting for the declaration of state of calamity by the president shall not be necessary in times of urgent need.

Asked if the amendment still requires a Congress legislation, Veloso said that the changes can be decided upon by the System’s high-ranking officials as internal matter.

Veloso, a former Philippine National Bank (PNB) chief executive officer, was appointed by President Ferdinand Marcos Jr. as GSIS president and general manager on June 29, this year.

He replaced Rolando Macasaet who served as the GSIS president and general manager under the Duterte administration.