Issues

Approved loans for small businesses thanks to Credit Surety Fund Act — Sen. Bam

Small enterprises will now benefit from the Credit Surety Fund Cooperative Act of 2015 with the signing of its implementing rules and regulations (IRR), according to Sen. Bam Aquino.

 “Finally, small enterprises can access loans and financing with the full implementation of the Republic Act 10744,” said Sen. Bam.

 Sen. Bam was the author and principal sponsor of the measure in the Senate during his time as chairman of the Committee on Trade, Commerce and Entrepreneurship in the 16th Congress.

 The law institutionalizes the Bangko Sentral ng Pilipinas’ Credit Surety Fund (CSF) program, which provides small businesses loans ranging from P200,000 to P5 million.

 Sen, Bam pointed out that loan needs for small businesses usually range from P500,000 to P5 million, which is too big for microfinance institutions and perceived as too risky by banks, which usually ask for collateral.

 “Through this measure, we hope more small enterprises will have access to the capital they need to grow their business,” Sen. Bam said.

The law mandates the BSP, local government units, cooperatives, microfinance NGOs and government financing institutions (GFIs) to create an initial fund.

 This initial fund may be used by entrepreneurs and businessmen belonging to cooperatives and microfinance NGOs, which helped establish it, as collateral or guarantee for bank loans.

 Currently, the BSP’s CSFs exist in 46 provinces and cities with two more to be launched next week. As of April 30 2017, the total amount released through CSFs is P3.25 billion to 16,360 MSMEs.

 Republic Act 10744 aims to build the capability of MSMEs, cooperatives and non-government organizations in the areas of credit evaluation, loan and risk management, and good governance.

It also seeks to enhance the MSMEs’ credit worthiness and broaden access to credit facilities, and sustain the continuous flow of credit in the countryside.

“This will generate more employment and alleviate poverty through increased investments and economic activities,” Sen. Bam pointed out.

Elderly groups back Sen. Bam’s bill creating commission for senior citizens

Different senior citizens organizations have expressed support for the passage of Sen. Bam Aquino’s measure seeking to create a National Commission for Senior Citizens (NCSC) to ensure that rights and privileges they are entitled to are properly given to them.

Officials and members of the different organizations met with Sen. Bam at the Senate Monday and aired their full support for the enactment of Senate Bill No. 674 into law.

 The groups include the NAPC Senior Citizens Sectoral Council, Federation of Senior Citizens of the Philippines (FSCAP), Confederation of Older Persons Association of the Philippines (COPAP), Coalition of Services of the Elderly, Inc. (COSE), and Pederasyon ng Maralitang Nakakatanda (PAMANA) with DSWD, NCDA, CWC, and House Committees on Government Reorganization and on Population and Family Relations.

 As former chairman of the National Youth Commission, Sen. Bam underscored the importance of having such a commission for a specific sector of society.

“If we have one for the youth, we should definitely have one for senior citizens as acknowledgement of their contribution to the growth and progress of the country,” said Sen. Bam.

 “As they reach the twilight of their lives, it is our responsibility to take care of our seniors, and uphold their rights and privileges,” said Sen. Bam.

 According to the senator, the commission will ensure the proper implementation of Republic Act 7432 or the Senior Citizens Act of 2015, with the best interests of our country’s seniors at heart.

“As a national agency, the NCSC will formulate and implement policies, plans, and programs that promote senior rights and privileges or address issues plaguing the sector,” Sen. Bam stressed.

The bill seeks to amend Section 11 of Republic Act 7432 or the Expanded Senior Citizen Act of 2010, abolishing the National Coordinating and Monitoring Board and replacing it with NCSC.

 The council will be spearheaded by a chairperson and commissioners from a list submitted by senior citizens organizations and associations.

 “Regional commissions for senior citizens will also be established in different local government units to effectively address the needs of the elderly in the provinces,” said Sen. Bam.

 

Senate Minority Bloc urges gov’t institutions to preserve their independence

The Senate Minority Bloc on Independence Day called on various institutions of democracy such as the Congress and Supreme Court to assert their independence.
 
“Now, more than ever, it is important for our democratic institutions to show their independence amidst the complicated and divisive political environment that we have today,” they said in a statement.
 
The Senate Minority Bloc is composed of Senators Franklin M. Drilon as the minority leader, Francis “Kiko” Pangilinan, Benigno Paulo “Bam” Aquino IV, and Leila De Lima, all belonging to the Liberal Party; Sen. Antonio “Sonny” Trillanes IV; and Akbayan Senator Risa Hontiveros.
 
“We will not be able to protect our people if we do not preserve our independence and integrity as institutions of democracy,” they said.
 
“Let us not allow others to dishonor and disrespect our institutions, because doing so is an insult to the memory of the brave and selfless Filipinos who fought for our freedom as a nation,” said Drilon.
 
Trillanes stressed that “it is in everyone’s interest that we guard the independence of our institutions.” 
 
“As we celebrate our Independence today, let us breathe life to the liberties that were fought for us by our forerunners by defending the independence of our institutions and by keeping dissent alive in the face of tyranny,” Trillanes said.
 
Pangilinan and Aquino, for their part, said that the people should continue to guard the democracy in light of the proliferation of “fake news” and misinformation.
 
“Sa pagyabong ng social media, lumaganap din ang fake news na nagbabanta sa katotohanan at nagdudulot ng kalituhan. Nais nating mga Pilipino na maging malaya mula sa fake news at kasinungalingan,” said Pangilinan.
 
“We fought for independence from foreign rule. We fought for freedom from a ruthless dictator. Now, we fight terrorism, encroachment on our territory and our freedom to dissent.  In an era of fake news, rabid online persecution and weak political institutions, we need to fight for our democracy now more than ever,” Aquino said. 
 
Hontiveros, for her part, said that “independence and freedom will have no sense without democracy.”
 
“Our freedom can only be guaranteed by strong democratic institutions. I call on the public to honor the sacrifices of our heroes by opposing a Martial law declaration that is not compliant with the constitution. Let us always remember, the promised order of tyranny will never bring us to full democracy,” she added.

Sen. Bam to Aguirre: Apologize, take responsibility for reckless accusations

“The Justice Secretary should simply apologize and take responsibility for his reckless accusations.”

Sen. Bam Aquino is baffled by the delay in the issuance of Sec. Vitaliano Aguirre’s public apology, saying there’s no reason to wait until Monday to correct his mistakes.

“The clarification that his office issued is merely stating the obvious,” the senator said, referring to the statement released by Aguirre’s office early Friday.

Earlier, Sec. Aguirre alleged that Sen. Bam met with several fellow lawmakers and prominent families in Marawi City on May 2, three weeks before the firefight in the city erupted.

On that date, Sen. Bam was the commencement speaker of the Polytechnic University of the Philippines (PUP) at the PICC in Pasay City. In the afternoon, he attended the Senate session.

Sen. Bam said Aguirre should own up to his mistakes and publicly apologize for his irresponsibility, as what he committed during an earlier conversation with the senator.

“The least he can do is make a public apology at hinahanap natin ang pangako na mas magiging maingat na siya sa kanyang mga binibitawang salita,” the senator stressed.

Sen. Bam said two of Aguirre’s fellow Cabinet members reached out to the Justice Secretary to “clarify my Marawi trip as early as Wednesday.”

According to the senator, Defense Sec. Delfin Lorenzana reached out to Aguirre, informing the Justice Secretary that Sen. Bam was with officials of the Armed Forces of the Philippines (AFP) during his visit to Marawi City last May 19 to attend the inauguration of a Negosyo Center.

Among those who joined Sen. Bam in the inauguration were B/Gen. Rolando Joselito Bautista, Gen. Nixon Fortes and Vice Gov. Bombit Adiong.

Lorenzana also debunked rumors linking Sen. Bam to the Marawi incident as “too absurd to be believed”.

“Trade Sec. Mon Lopez has already publicly clarified and confirmed that I was in Marawi City for the Negosyo Center launch. These are easily verifiable for anyone who cares to find the truth,” said Sen. Bam.

Defense Sec. Lorenzana: Rumors linking Sen. Bam to Marawi incident ‘too absurd to be believed’

Defense Secretary Delfin Lorenzana described rumors linking Sen. Bam Aquino to the Marawi incident as “too absurd to be believed”.

 In his exchange of text messages with the senator, Lorenzana assured Sen. Bam that he “never gave credence to rumors about the lawmaker’s presence in Marawi” days before the skirmish between the government troops and members of the Maute group, as they were “too absurd to be believed”.

 Lorenzana also thanked the senator for his support for the Defense Department and their efforts to maintain peace and order in the country.

 In a radio interview, Sen. Bam said Lorenzana also absolved him and other members of the opposition regarding the Marawi incident during a closed-door briefing on Martial Law.

“During the briefing, tinanong ko si Sec. Lorenzana tungkol sa mga fake news na kumakalat pero natawa lang siya at nagsabing walang katotohanan ang mga ito,” said Sen. Bam.

 Sen. Bam sought Lorenzana’s clarification following Justice Sec. Vitaliano Aguirre’s accusation that he and other lawmakers met with prominent families in Marawi City on May 2, three weeks before the incident.

On that date, Sen. Bam was the commencement speaker of the Polytechnic University of the Philippines (PUP) at the PICC in Pasay City. In the afternoon, he attended the Senate session.

 It was on May 19 that Sen. Bam attended the inauguration of the first Negosyo Center in the Autonomous Region in Muslim Mindanao (ARMM) in Marawi City together with Vice Gov. Bombit Adiong, B/Gen. Rolando Joselito Bautista and Gen. Nixon Fortes.

“Trade Sec. Mon Lopez has already publicly clarified and confirmed that I was in Marawi City for the Negosyo Center launch. These are easily verifiable for anyone who cares to find the truth,” said Sen. Bam.

 Sen. Bam maintained that it would be prudent for Aguirre, as Justice Secretary, to clarify dates, seek evidence and request for official statements from legitimate government agencies before he makes yet another false accusation.

 “This tragedy could have been an opportunity to unite the Philippines against a common enemy. Instead, it’s being used to further political interests and further divide our country,” he said.

Sen. Bam on Sec. Aguirre’s allegations on Marawi meeting

Is fake news enough for the head of our country’s Department of Justice to make these outrageous allegations?

To be clear, there was never any meeting among the individuals mentioned by Sec. Aguirre.

 On May 2, 2017, I was the PUP commencement speaker at the PICC and attended the session at the Philippine Senate.

My trip to Marawi was on May 19, 2017 to launch the first Negosyo Center in the ARMM and I had with me an AFP escort throughout my trip, which can easily be verified through the AFP.

Vice Gov. Bombit Adiong, B/Gen. Rolando Joselito Bautista and Gen. Nixon Fortes were also with me during the event.

 DTI Sec. Mon Lopez has already publicly clarified and confirmed that I was in Marawi City for the NegosyoCenter launch.

These are easily verifiable for anyone who cares to find the truth.

 It would be prudent for Sec. Aguirre to clarify dates, seek evidence and request for official statements from legitimate government agencies before he makes yet another false accusation.

 This tragedy could have been an opportunity to unite the Philippines against a common enemy.

 Instead, it’s being used to further political interests and further divide our country.

Sen. Bam: Lawmakers committed to fund free tertiary education completely

Sen. Bam Aquino is confident that Congress will allot the necessary budget for the free education in state colleges and universities and local colleges and universities once the measure is enacted into law. 

“The Majority and Minority are committed to fund this revolutionary initiative,” said Sen. Bam, principal sponsor and co-author of the Universal Access to Quality Tertiary Education Act in the Senate.

“Upon its ratification last week, Sen. Loren Legarda, Chairman of the Committee on Finance, committed to fund this as well,” said Sen. Bam, who estimated the annual budget for free tertiary education to be between P50 to P53 billion.

 The senator is also confident that Malacanang will support the measure, being a major reform for education and poverty alleviation in the country.

 The Senate and the House have both ratified the bicameral conference committee report. It will now be transmitted to Malacanang for President Duterte’s approval.

If passed into law, education in SUCs, LUCs and vocational schools under the Technical Education and Skills Development Authority (TESDA) will be virtually free, with the government shouldering tuition, miscellaneous and other fees.

 Another salient feature of the measure is the loan program, where students can apply for financing for other education expenses.

Sen. Bam said the loans will be tied up to Social Security System (SSS) and Government Service Insurance Systems (GSIS) payments to ensure that funds for student loans will not be depleted.

“Ito’y isang paraan upang masiguro na makokolekta ang bayad sa ibinigay na loan ng gobyerno sa ating mga estudyante,” Sen. Bam said.

If passed by June or July, Sen. Bam said students will benefit from the law starting the second semester of school year 2017-18.

Sen. Bam defended the measure in plenary debates and interpellation during his stint as chairman of the Committee on Education.

 Sen. Bam was also the co-chairman of the Senate delegation to the bicameral conference committee, together with new Committee on Education chairman Sen. Francis Escudero. Other members of the Senate panel were Sens. Sherwin Gatchalian and Ralph Recto.

Sen. Bam: No political patronage in free education in SUCs, LUCs

A senator hopes free education in state universities and colleges (SUCs) and local universities and colleges (LUCs) will discourage political patronage.
 
“Unang-una, lahat ng estudyante po bibigyan ng tulong. Kaya iyong palakasan sa mga pulitiko dahil iilan lang ang mabibigyan ng tulong, hindi na valid iyan,” Sen. Bam Aquino said during a press conference discussing the Universal Access to Quality Tertiary Education Act.
 
“Sa ganitong paraan, hindi na kailangang kumuha pa ng endorsement letters para magkaroon ng subsidy. Hopefully, that will help decrease patronage in the provision of scholarships,” added Sen. Bam.
 
The Senate and the House both ratified the bicameral conference committee report. It will now be transmitted to Malacanang for President Duterte’s approval.
 
According to Sen. Bam, the final version makes education in SUCs, LUCs and vocational schools under the Technical Education and Skills Development Authority (TESDA) virtually free, with the government shouldering tuition, miscellaneous and other fees.
 
“Kapag ito’y naisabatas na, magiging state policy na libre na ang tertiary level education pagdating sa SUCs, LUCs at pati na sa vocational schools ng TESDA,” said Sen. Bam, who defended the measure in plenary debates and interpellation during his stint as chairman of the Committee on Education.
 
Sen. Bam was also the co-chairman of the Senate delegation to the bicameral conference committee, together with new Committee on Education chairman Sen. Francis Escudero. Other members of the Senate panel are Sens. Sherwin Gatchalian and Ralph Recto.
 
If enacted into law, it will institutionalize free tuition and other fees in SUCs and LUCs all over the country, giving underprivileged students a chance to earn a college degree.
 
It will also make scholarship grants available to students of both public and private college and universities.

Sen. Bam: Implement law, prioritize children in Lanao del Sur

Sen. Bam Aquino called on concerned government agencies to implement a law that prioritizes the welfare and safety of children during conflicts and disasters amid the ongoing clash between government troops and the Maute group in Marawi City.

 The senator was referring to the Republic Act 10821 or the Children’s Emergency Relief and Protection Act. He was the co-author of the measure during his time as chairman of Committee on Youth in the 16th Congress.

“Ang pinaka-kawawa talaga sa mga sakuna at labanan ay ang mga bata. We passed this law to ensure they are protected,” said Sen. Bam.

 “May mga batang nawawalan ng tahanan at may mga nakakasaksi sa karahasan. Alagaan natin sila, tiyakin na sila’y ligtas at ibigay ang lahat ng kanilang pangangailangan,” he added.

Sen. Bam said the Department of Social Welfare and Development is mandated by law to enforce an emergency program for children during disasters and conflicts.

  “We must ensure that this law is fully implemented as it prioritizes the children during these times of armed conflict,” Sen. Bam stressed.

 Sen. Bam made the pronouncement after the United Nations Children’s Fund reported that a child was killed while 50,000 have been displaced in the Marawi conflict.

 Republic Act 10821 provides utmost priority to children during and after every disaster as they are the most vulnerable and are worst affected during disasters such as earthquakes, volcanic eruptions and flash floods and areas of armed conflicts like Marawi City.

It also establishes child-centered training to disaster first responders, teachers, psychologists and other volunteers in disaster recovery, relief and rehabilitation, with special modules for different stages of children and youth development.

It mandates the Department of Social Welfare and Development (DSWD) to formulate a Comprehensive Emergency Program for Children and local government units to integrate the said program in their development and Local Disaster Risk Reduction and Management (LDRRM) plans and budget.

 “The law also provides for immediately heightened comprehensive measures by DSWD and the AFP to protect women and children from sexual violence and abuse in the affected areas,” said Sen. Bam.

 

Sen. Bam: Students to enjoy free SUCs starting 2nd sem of school year 2017-18

A senator expects students to benefit from the free education in state universities and colleges (SUCs) and local universities and colleges (LUCs) beginning the second semester of school year 2017-18.

 “Napag-usapan sa bicam na it will be effective second semester ng school year 2017-2018 because by the time na ma-publish ito at maging batas, baka tapos na ang enrollment ng first semester,” said Sen. Bam Aquino, the principal sponsor and co-author of the Universal Access to Quality Tertiary Education Act in the Senate.

 “We’re hoping that by November or second semester, libre na ang tuition at iba pang bayarin sa ating SUCs,” the senator added.

 As one of its major salient points, the measure prohibits SUCs from collecting other fees from students, making tertiary education totally free for underprivileged students.

 “Kapag napirmahan na ito bilang batas, magiging state policy na libre na ang tertiary level education pagdating sa SUCs at LUCs natin,” said Sen. Bam, who defended the measure in plenary debates and interpellation during his stint as chairman of the Committee on Education.

 Sen. Bam was also the co-chairman of the Senate delegation to the bicameral conference committee, together with new Committee on Education chairman Sen. Francis Escudero. Other members of the Senate panel are Sens. Sherwin Gatchalian and Ralph Recto.

 If enacted into law, it will institutionalize free tuition and other fees in SUCs and LUCs all over the country, giving underprivileged students a chance to earn a college degree.

 It will also make scholarship grants available to students of both public and private college and universities.

The final version of the measure has been ratified by the Senate on Tuesday.

Scroll to top