The Government Service Insurance System (GSIS) leadership on Tuesday reiterated its commitment to run after uncollected loans from 21 private companies amounting to P2.1 billion as per Commission on Audit (COA) report. GSIS President and General Manager Wick Veloso said they are in continuous talks with the companies while other cases are in various courts. Veloso also clarified that GSIS already secured the collaterals of these loans. “Itong 21 na pribadong kompanya, yung iba po rito, na-possess na namin yung mga collateral. Nasa aming paghahawak na. Yung iba naman po ay nasa korte. Ngunit lahat pong yan ay mga secured ng real estate at nasa GSIS po lahat (These 21 companies, we now have in possession their collaterals. Others are in the courts. But all of these real estate were already secured by the GSIS),” he said during a radio interview. In its recent report, COA urged the GSIS to collect all the unpaid loans of its delinquent borrowers which includes a PHP600 million in 1997 as the biggest unpaid loan. Veloso admitted that in 2016 the GSIS uncollected loans amounted to PHP74 billion. But, he reported that for the first four months of 2023, it went down to PHP35.6 billion. “Sinisigurado po namin na isa-isa po naming sinusuri at sinusuyod po namin lahat ng may pagkakautang po sa amin. Yun pong nakakausap namin binibigyan po namin ng (We assure that we scrutinize each borrower. Those we have reached out were given the chance to avail our) reconciliation and condonation program,” Veloso said. “Nagdagdag din po kami ng mga collection agents across the country para mas mapabilis po ang ang pagkolekta (We also hired more collection agents across the country to hasten the collection process),” he added. This, the GSIS chief noted, was also mentioned in the COA report commending the state pension fund for its “continuous actions in enhancing its system to achieve a more effective collection facility.’
Source: Philippines News Agency