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PIA Press Release
2008/07/17

PGMA orders special P500-M soft loan package for livelihood projects of drivers' families

Manila (17 July) -- President Gloria Macapagal-Arroyo directed all government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs) to draw up a P500-million special, easily accessible loan program for the livelihood projects of the families and relatives of drivers and conductors of public utility vehicles (PUVs).

The President issued the directive when she addressed the Forum on Alternative Fuel for Public Transport at the Hall A & B of the Philippine Trade and Training Center (PTTC) in Pasay City yesterday morning.

"Today, I take this opportunity to direct all GOCCs and government-financial institutions to craft a special, easily accessible P500-million micro-financing program for the wives and the immediate family members of drivers and conductors of public utility vehicles," the President said.

The P.5-billion micro-financing assistance will be sourced from the value added tax (VAT) collected by the national government, she said.

The President also tasked Presidential Management Staff (PMS) Director General and Secretary Cerge Remonde to encourage private market financing institutions to draw up a similar market financing program for the families and relatives of the transport workers.

The President told the transport groups that once the guidelines for the special loan package are drawn by the GOCCs and GFIs, the wives and immediate family members of the PUB drivers and conductors can start filing their request for their loan.

She said the special accessible loan package is envisioned to uplift the living conditions of drivers and conductors of PUVs such as jeepneys, taxis, buses and FX.

In her speech, the President informed the drivers and commuters, that the Philippine National Police (PNP) and the Metro Manila Development Authority (MMDA) are not sleeping on their jobs in the fight against erring or "kotong cops" and kolorum vehicles.

"We are also fighting kotong and kolorum to boost drivers' income," the President said.

She said that there's now a need to look for an alternative way to increase the income of public utility vehicles workers to enable them to meet the daily needs of their families.

"Umaasa tayo na makadaragdag ito sa kita ng kanilang mga mag-anak na hindi aasa lamang sa nag-iisang kita ng tsuper at konduktor sa pamilya," the President said.

Joining the President in the forum were Transportation Secretary Leandro Mendoza, PMS Director General Secretary Cerge Remonde, MMDA Chairman Bayani Fernando, and LTO chief Alberto Suansing Jr. (PIA-MMIO) [top]

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