PDP-LABAN standard bearers to establish bank dedicated for small entrepreneurs, ordinary workers

Vice-presidential candidate Sen. Alan Peter Cayetano (left) and Presidential candidate Rodrigo “Rody” Duterte (right)
(Photo courtesy of the official Facebook page of Sen. Alan Peter Cayetano)

MANILA—The tandem of PDP-LABAN presidential bet Rodrigo Duterte and running mate Sen. Alan Peter Cayetano is planning to establish a bank dedicated for small entrepreneurs and ordinary workers to ensure sustainable growth.

The two made this pledge during their “Ronda-Serye” visit to communities near the University of the Philippines in Quezon City Thursday.

During their sortie, Duterte and Cayetano got a chance to talk with ordinary jeepney drivers and vendors in the area and presented their plans if elected to the presidency and vice presidency.

A common problem raised by vendors and drivers is the lack of access to capital to help sustain their source of income.

They explained that they often resort to borrowing money from “5-6” loan sharks that charge usurious interest rates.

Duterte vowed to eliminate this illegal practice if elected president.

And to allow ordinary workers to feel the benefits of economic growth, Cayetano vowed to mobilize the national government budget so that small entrepreneurs and people’s cooperatives can have better opportunities to grow and provide assistance to their members.

He is also pushing for the establishment of a bank that will provide loans and other services to (micro-small, medium enterprises) MSMEs, similar to Thailand’s SME Bank.

“Kailangan magkaroon ng bangko para magpautang ng puhunan sa pinakamababang interes sa mga mahihirap at maliliit na negosyante. Ang pinapautang dapat ng gobyerno ay ang mahihirap, hindi puro mayayaman,” he added.

Cayetano has been a firm advocate of MSME development since his reelection campaign in 2013, when he launched his Presyo, Trabaho, Kita (PTK) agenda that grants capital to small-scale workers.

“Sa ilalim ng plataporma namin, may matapang na solusyon at mabilis na aksyon, at ang bawat Pilipinong kumakayod para sa kanyang pamilya ay magkakaroon ng pagkakataong lumago ang buhay. Panahon na para sa tunay na pagbabago. Panahon na para sumaya ang Pilipino,” Cayetano said.