CEBU CITY – An official of the Home Development Mutual Fund (Pag-IBIG Fund) in this city has expressed optimism to hit their membership target this year as it already registered some 303,838 members or 92 percent out of its total target for 2010.

Van Pepito, marketing section chief, disclosed that they are positive to hit the 331,466 membership goal this year because for the first semester alone, they are already more than 90 percent of their target.

“If the two percent average trend will continue, then we will surely hit our goal,” said Pepito.

Meanwhile, for its housing loan program, the Pag-IBIG Cebu Branch has already released a total loan amount of P595,213,000 covering 715 borrowers which already reached more than 40 percent of the target.

For its short-term loan that includes multi-purpose and calamity loans, 40,810 members have availed of the program with a total amount of P742,684,000.

Pag-IBIG said it intends to release a total loan amount of P1,348,205,000 at the end of the year.

In another development, in its continuing effort to uphold the law and protect its members’ five manpower and security agencies here, they have been placed under the Pag-IBIG watchlist due to their failure to remit the monthly contributions of their employees.

Lawyer Leonard Elacion of Pag-IBIG Cebu said that the five companies, whose names he refused to divulge, reportedly did not remit the monthly contributions of their employees which is a clear violation of the law.

Elacion has already issued warning against the said companies as they are expected to face criminal charges for ignoring their obligation.