Issues

Bam: MFI NGOs provide lower-interest, no-collateral loans to poor, micro-businesses

Rather than be burdened by high-interest loans collected by loan sharks and other informal lenders, Sen. Bam Aquino encouraged the public to approach m​icrofinance non-government organizations (​MFI ​NGOs) for lower-interest and no-collateral financing.

“Madali nga ang proseso ng pangungutang sa 5-6 subalit pinapatay naman tayo sa laki ng interes sa kanilang mga pautang,” said Sen. Bam.

 “Upang hindi na tayo mabigatan sa malaking interes, subukan nating lumapit sa mga MFI NGOs sa iba’t ibang bahagi ng bansa na nagbibigay ng pautang sa mas mababang interes at walang kolateral,” added Sen. Bam.

Sen. Bam explained that some micro-business owners were forced to close shop due to the high interest being collected by loan sharks. But businesses flourished after obtaining loans and undergoing training from different MFI NGOs in the country.

 “Huwag sayangin ang kita sa malaking interes na sinisingil ng 5-6,” said Sen. Bam.

 Aside from low-interest loans, MFI NGOs also provide clients with trainings and other business development skills that they can use to grow their livelihood. MFI NGOs also help in community organizing and values formation and offer other services like insurance and education and health-related loans to their regular clients.

Before he was elected as senator, Sen. Bam worked with MFI NGOs as a social entrepreneur.

During his term as chairman of the Committee on Trade, Commerce and Entrepreneurship in the 16th Congress, Sen. Bam sponsored and co-authored Republic Act 10693 or the Microfinance NGOs Act to ensure MFI NGOs continue to operate and serve poor Filipino communities.

 Sen. Bam said the MFI NGOs Act will help eradicate 5-6 by giving Filipinos an alternative means to obtain low-interest, no-collateral loans.

Republic Act 10693 gives incentives to MFI NGOs to continue helping Filipinos overcome poverty not just through financing but also through financial literacy, livelihood, and entrepreneurship training.

The law also provides MFI NGOs needed support and incentives that includes access to government programs and projects, technical assistance and exemption from taxes.

 In addition to the MFI NGOs Act, Sen. Bam will be looking into other measures where government can further support the MFI sector.

 Microfinance NGOs have been operating in the country since 1986. According to latest data, MFI NGO members of the Microfinance Council of the Philippines, Inc. (MCPI) have five million active borrowers.

 For a full list of MFI NGOs in the country, please visit http://www. microfinancecouncil.org/ regular-members/.

Bam: Support Microfinance NGOs to end 5-6, loan sharks

Sen. Bam Aquino called on the government to strengthen microfinance institutions (MFIs) in the country to give millions of Filipinos a better alternative from loan sharks and other informal lenders that burden them with unreasonable and high interest rates.

“Dapat palakasin ng pamahalaan ang ating microfinance institutions upang tuluyan nang magwakas ang pagdepende ng mga Pilipino sa 5-6 na naniningil ng sobra at hindi makatwirang interes na lalo pang nagpapahirap sa kanila,” said Sen. Bam.

 “Sa tulong ng Microfinance NGOs, mayroon nang alternatibong malalapitan ang mahihirap at maliliit na negosyante para makakuha ng pautang sa mababang interes at walang collateral,” the senator said.

 Sen. Bam made the pronouncement after it was reported that around three million Filipinos, mostly small entrepreneurs, are indebted to loan sharks and informal lenders.

 Despite the high interest, many Filipinos are enticed to obtain financing from loan sharks because they are not required to submit documentary requirements and collateral, unlike in banks.

 “Hindi na tayo kailangang kumapit sa patalim at kumagat sa 5-6 dahil mayroon tayong microfinance NGOs na handang magbigay ng pautang sa mababang interes at walang collateral,” Sen. Bam said.

 Microfinance NGOs provide Filipinos access to low-interest, no collateral loans to pay for housing, medical, and educational needs as well as loans for small businesses.

 Sen. Bam was the principal sponsor and co-author of Republic Act 10693 or the Microfinance NGOs Act during his term as chairman of Committee on Trade, Commerce and Entrepreneurship in the 16th Congress.

 “Layunin ng batas na ito na mailayo ang mahihirap sa malaking interest na sinisingil ng loan sharks at masusuportahan ang pagnanais ng gobyerno na mabura ang talamak na 5-6,” he said.

The law gives incentives to microfinance NGOs to continue helping Filipinos overcome poverty not just through financing but also through financial literacy, livelihood, and entrepreneurship training.

The law also provides microfinance NGOs needed support and incentives that includes access to government programs and projects, technical assistance and exemption from taxes.

Bam: Respect people’s right to choose leaders

A senator urged the government to respect the people’s right to choose their next Barangay and Sangguniang Kabataan (SK) leaders amid the administration’s plan to postpone October village elections and appoint a new set of leaders.

“Our barangay elections are a way for us to exercise our democracy,” Sen. Bam Aquino said in a media interview

 “Mahalaga na galing sa taumbayan ang halal, especially at the smallest unit of governance, so that our officials are accountable to their constituents and serve the people. Appointing barangay officials will only strengthen the patronage system in our country,” he added.

 The senator also insisted a law is needed that will allow not just the postponement of the elections, but will grant the President the authority to appoint.

Sen. Bam insisted that elections must push through this October to give people a chance to choose their next barangay and Sangguniang Kabataan leaders.

 Sen. Bam also stressed that reforms that lawmakers fought for in Republic Act No. 10742 or the SK Reform Act will go down the drain if the SK elections will be postponed anew.

“Maganda ang mga repormang nakapaloob sa batas na ito at napapanahon nang maipatupad. Mauuwi lang ito sa wala kung hindi na naman matutuloy ang halalan,” said Sen. Bam, who pushed for the law’s passage as co-author and co-sponsor in the 16th Congress during his time as chairman of the Committee on Youth.

 The first legislation with an anti-dynasty provision, the SK Reform Act prohibits relatives of elected officials up to 2nd civil degree of consanguinity or affinity from seeking SK posts.

The law adjusts age limit of SK officials from 15-17 to 18-24 years old, making them legally capable of entering into contracts and be held accountable and liable for their actions.

 Furthermore, SK officials will now be required to undergo leadership training programs to expose them to the best practices in governance and guide their development as leaders.

The new law also mandates the creation of the Local Youth Development Council (LYDC), a council that will support the SK and ensure the participation of more youth through youth organizations.

 The LYDC will be composed of representatives from the different youth organizations in the community – student councils, church and youth faith groups, youth-serving organizations, and community-based youth groups.

Bam: President and VP have no hand in impeachment cases

Sen. Bam Aquino believes President Duterte has no hand in the moves to impeach Vice President Leni Robredo.

“Iyong pagkasabi ni President Duterte na hindi siya involved, naniniwala naman ako doon. The same way na si VP Leni ay hindi involved sa pagpapaimpeach kay President Duterte,” Sen. Bam said in an interview.

“They both said na wala silang kinalaman, can’t we just leave it at that? Because in the end, mas gumugulo iyong bayan natin kapag pinag-aaway sila,” he added.

The senator criticized groups creating a division between Duterte and Robredo, saying the country will be at the losing end if the rift between the top two leaders continues.

Sen. Bam also urged allies of President Duterte to follow the Chief Executive’s order to stop moves to impeach Vice President Robredo.

“That’s already a sign, a signal and a message for his allies. Iyong mga grupo, iyong mga kaalyado ni President Duterte, sana makinig naman sa kanya,” Sen. Bam said,

Sen. Bam was referring to Duterte’s message to allies to stop any attempt to oust Robredo from her post, saying the vice president is only exercising her right to free expression.

Despite the President’s pronouncement, House Speaker Pantaleon Alvarez and a group of lawyers both insisted that they will pursue Robredo’s impeachment.

“Kapag itutuloy pa iyan, sinabi naman ni Vice President Leni na handa naman siyang harapin ang kailangan niyang harapin. So tingnan na lang natin,” said Sen. Bam.

The senator also insisted that being critical does not equate to plotting for the removal of the president or the destabilization of his administration, adding that the vice president and the minority in the Senate will continue to point out lapses in governance.

Bam lays down priority measures of SciTech committee

Sen. Bam Aquino met with scientists and other stakeholders to tackle and iron out the priority measures of the Committee on Science and Technology, which he chairs.

 “Ngayong naipasa na ng kumite ang libreng internet sa mga pampublikong lugar, sunod naman nating tututukan ang Balik Scientist Bill at Innovative Startup Act para matulungan ang ating mga kababayan sa larangan ng agham at teknolohiya,” said Sen. Bam.

 During the round-table discussion, Sen. Bam presented Senate Bill 1183 or the Balik Scientist Bill, Senate Bill No. 175 or the Innovative Startup Act and Senate Bill No. 679 or the Magna Carta for Scientists to help address the issue as priority measures of his committee.

 Before the Senate went on a session break, it passed Senate Bill No. 1277 or the Free Internet Access in Public Places Act on third and final reading via 18-0 vote.

 “There are initiatives that should be beyond politics. As Chairman of the Committee on SciTech, we need to lay the foundation of a modern and prosperous society. Proper utilization of SciTech will be crucial in this aspiration,” added Sen. Bam.

 The Balik Scientist Bill seeks to provide overseas Filipino scientist with financial benefits and incentives to encourage to return to the Philippines and help boost the country’s research and development.

 The measure aims to institutionalize the Balik Scientist Program of the Department of Science and Technology (DOST), which successfully encouraged some of our scientists to return and contribute to research that will address development gaps in the Philippines.

 The Balik Scientist Program provides financial incentives for overseas Filipino scientists and facilitates their return to work on either a short-term or long-term basis.

 “We also want the Balik Scientist Program to involve our schools and the private sector. Let’s exhaust all efforts to repatriate our talented Filipino scientists,” Sen. Bam said.

The Innovative Startup Act, for its part, seeks to give necessary support for business startups to help them thrive and compete in the market.

The amendments to the Magna Carta for Scientists aims to streamline the process of providing benefits and incentives to S&T government personnel.

Sen. Bam hopes to craft a working draft before session resumes on May 2 for the amendments to the Magna Carta for Scientists (RA 8439) and the institutionalization of the Balik Scientists Program.

During the round-table discussion, stakeholders also raised several issues that hamper the development of science and technology in the country, including lack of support from government.

Sen. Bam said the government’s science and technology initiatives must be fine-tuned to address these problems.

Bam renews call to probe PH foreign policy, gov’t stand on Panatag Shoal, Benham Rise

A senator renewed his call to look into the country’s foreign policy direction following President Duterte’s latest pronouncements over Benham Rise and Panatag Shoal.

Last Sept. 19, 2016, Sen. Bam Aquino filed Senate Resolution No. 158, urging the government to clarify the country’s stand on different foreign policy issues. It was referred to the Committee on Foreign Relations chaired by Sen. Alan Peter Cayetano.

 Sen. Cayetano expressed willingness to conduct a hearing on the matter. However, six months had passed and, until now, no date has been set for the hearing.

 In addition, Sen. Bam insisted that the government must enlighten the Senate on the agreement that President Duterte allegedly entered into with China in connection with the Benham Rise. The Department of Foreign Affairs (DFA), for its part, was not informed about the deal.

“Mayroon ba talagang kasunduan na nangyari? At kung mayroon man, dapat ipaalam ng pamahalaan sa Senado ang nilalaman nito upang mapag-aralan at malaman ng taong bayan,” said Sen. Bam, who plans to call officials of the DFA, Department of National Defense and the Office of the President to clarify the matter.

Last year, Sen. Bam filed the resolution due to President Duterte’s different pronouncements on important foreign policy issues.

Aside from Sen. Bam, three other senators backed the resolution, including Sens. Franklin Drilon, Francis Pangilinan and Leila de Lima.

In a joint statement, the four senators expressed support behind Duterte’s push for an independent foreign policy but stressed that it must protect and champion the interest of the Filipino people.

The lawmakers also want the Departments of Foreign Affairs, Finance, and Trade and Investments to “explain the ramifications of the President’s latest foreign policy pronouncements on Filipinos living here and abroad”.

Bam: Democratic institutions must not succumb to intimidation, pressure

“Our democratic institutions, especially the Senate, must show that we can operate justly without succumbing to intimidation and pressure”.

Sen. Bam Aquino issued this challenge to fellow lawmakers amid plans by the House leadership to file impeachment complaint against Vice President Leni Robredo.

 “Democratic institutions must stand up and fight for our freedom and democracy while we still enjoy it”,” said Sen. Bam, the deputy minority leader in the Upper Chamber.

According to Sen. Bam, the impeachment complaint may reach the Senate if the House leadership “will bully and threaten the Congressmen, like what happened in the death penalty vote”.

 “But I have faith that my fellow legislators can still stand up to pressure that may be put on them and act fairly on the matter,” said Sen. Bam.

 “Clearly, this reaction from leaders of this administration is coming from the obsessive need to curb dissent or disagreement,” he added.

Earlier, the Liberal Party, to which Sen. Bam belongs, described as “baseless and orchestrated lies” accusations linking Vice President Robredo to moves to undermine the administration.

The LP stressed that Robredo is not and will not be part of any destabilization moves. The party added that President Duterte himself declared that Robredo had nothing to do with destabilization efforts against him.

Bam to push for passage of Trabaho Centers in Schools Act

After the overwhelming support for the passage of the Affordable Higher Education for All Act, Sen. Bam Aquino hopes his measure seeking to expand and strengthen job placement offices in schools can get the same backing in the Senate.
 
“While we will strive to provide free, quality education to Filipinos, we should ensure this translates to jobs and job security, and the Trabaho Centers in Schools Act can help make this happen,” said Sen. Bam, referring to his Senate Bill No. 1278 or Trabaho Centers in Schools Act.
 
Sen. Bam has been defending the measure during interpellation before the Senate adjourned its session last March 15. The bill will be tackled anew when session resumes on May 2.
 
Before the Senate adjourned, it approved Senate Bill No. 1304 or the Affordable Higher Education for All Act via 18-0 vote on third and final reading. Sen. Bam was the principal sponsor and co-author of the measure.
 
In his sponsorship speech for Senate Bill No. 1278, Sen. Bam said the bill will help address the problems of unemployment and underemployment by ensuing that suitable jobs await both high school and college graduates.
 
“By strengthen linkages between school and companies through the Trabaho Centers, we can lessen the number of unemployment and underemployment in the country,” said Sen. Bam.
 
By institutionalizing job placement offices in public schools and SUCs, Sen. Bam said it will help create employment opportunities and address the prevalent jobs mismatch in the country by serving as bridge between the job market and supply of graduates.
 
Based on latest data from the Philippine Statistics Office, the country’s unemployment rate is 4.7 percent with over 2 million jobless Filipinos. The number of underemployed Filipinos is pegged at 7.51 million.
 
“Clearly, there is a need, not only to generate employment opportunities, but also to address the jobs mismatch in the country,” Sen. Bam said.
 
The measure mandates the establishment of a Trabaho Center in every public high school and SUC with main services that include: 1) Industry Matching, 2) Career Counseling, and 3) Employment Facilitation.
 
The Trabaho Center must maintain an updated database of employers, contacts, and job opportunities in the locality and utilize this to provide students counseling on lucrative field of study and what specific jobs they can expect to apply for upon graduation.
 
The Trabaho Centers can address the skills mismatch by giving feedback for teaching modules and working with TESDA to better develop the skills of graduates and ensure employability upon graduation.

Bam: Ensure full implementation of Anti-Age Discrimination in Employment Act

With the graduation season coming up, a senator called for the strict implementation of the Anti-Age Discrimination in Employment Act to ensure fair treatment and opportunities for everyone.

 “Mauuwi lang sa wala ang layunin ng batas na ito kung hindi lang ito maipatutupad nang husto,” said Sen. Bam Aquino, a co-author of the measure in the Senate during the 16th Congress.

“With graduation season coming up, more Filipinos, young and old, will be competing for available jobs. Let’s ensure that there is equal opportunity for all,” added Sen. Bam.

Republic Act 10911 or the Anti-Age Discrimination in Employment Act seeks to promote equality in the workplace by mandating companies –including national and local government, contractors and organizations — to hire workers based on their competence, and not on their age.

The law prohibits printing or publishing any notice of advertisement relating to employment suggesting preferences, limitations, specifications, and discrimination based on age

 It also prohibits job applicants to declare their age during the hiring process and other acts such as declining an applicant, providing less compensation and benefits and denying promotions or training opportunities.

Republic Act 10911 also outlaws forced dismissal of older age workers, imposing early retirement and reducing wage of all employees to comply with RA 10911.

According to Sen. Bam, violators will be fined between P50,000 and P500,000, and will be imprisoned from 3 months to two years, at the court’s discretion.

Bam: Education is one of Senate’s utmost priorities

The passage of the Affordable Higher Education for All Act via 18-0 vote is a clear message to Filipinos that education is an utmost priority in the Senate, Sen. Bam Aquino emphasized.

“The Senate sent a strong signal to the Filipino people with an 18-0 vote for the passage of the Affordable Higher Education for All Act,” Sen. Bam said in his endorsement speech for the appointment of Education Secretary Leonor Magtolis Briones.

“Our priority is education. We are investing in educating our countrymen and arming them with the knowledge and skills to build a better future for their family,” Sen. Bam told members of the Commission on Appointments.

In his earlier manifestation after the measure’s approval, Sen. Bam stressed that the Affordable Higher Education for All Act is the best investment that the country can undertake for the future of the students and the next generation.

Sen. Bam also thanked students, saying their everyday plight inspired lawmakers to pass the measure, which will provide free tuition fee in state colleges and universities and strengthen the government’s scholarship programs in private higher educational institutions.

 “Alam natin ang pinagdadaanan ng mga estudyante, kung gaano kahirap ang kinalalagyan at kung gaano nila kailangan ang batas na ito,” said Sen. Bam, who acted as principal sponsor and co-author of Senate Bill No. 1304.

The senator defended the measure during interpellation before he was removed as chairman of the Committee on Education and replaced by Sen. Chiz Escudero.

During his manifestation, Sen. Bam thanked Sen. Escudero for allowing him to finish work on the measure until its passage.

 The senator also lauded the Senate’s concerted effort, thanking fellow senators who helped develop and strengthen the measure during interpellation and period of amendments.

 “Nothing that passes through the Senate can be attributed to one person alone, one office alone which is why this team effort from across the aisle must be recognized,” said Sen. Bam.

 Sen. Bam also acknowledged concerned government agencies and private stakeholders for their contribution in tackling the different provisions of the measure.

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