GSIS signs agreement with Buguey, Cagayan

GSIS President and General Manager Robert G. Vergara signs the Memorandum of Agreement with Mayor Licerio M. Antipoda III of Buguey, Cagayan. The MOA calls for the settlement of P7.4 million in unpaid interest on delayed remittances by the municipal goverment of Buguey, covering the period 1998 to 2010. Under the MOA, Buguey has agreed to make a downpayment of 20 percent on the said interest. For its part, the GSIS will condone 30 percent of the interest charges on the obligation, leaving a balance of P4.1 million on Buguey’s unsettled interest obligation. Buguey has committed to pay the balance within 24 monthsBuguey signs new agreement to GSIS