The government should help enhance financial literacy among Filipinos by tapping the free airtime allotted for government public service announcements (PSAs) in television and radio stations, Rizal Rep. Fidel Nograles said.
Nograles said these PSAs could be geared toward developing a financial education campaign amid the rise in alleged "get rich quick" investments that are oftentimes bogus schemes.
“We have to explore more creative ways to educate our people not to invest on the promise of quick and high returns,” the rookie lawmaker in the 18th Congress said.
Nograles made the call after the Securities and Exchange Commission (SEC) bared that it has already issued 68 advisories on questionable investment offers during the COVID-19 pandemic.
He noted that broadcast franchise grantees are required by law to provide adequate public service time to enable the government to reach the public on important issues, and assist in the functions of public information and education like health advisories.
“Mabigat ang parusa para sa mga scammers. Ngunit masalimuot ang proseso ng pagsasampa ng kaso laban sa kanila. Sa haba ng proseso, marami sa mga nabibiktima ang pinipili na lang manahimik at hindi maghabla (There's a hefty punishment against scammers. However it's quite complicated to file cases against them. Because of this, many of the victims tend to just keep quiet and not press charges)," he said.
"Kaya baka ang mas nararapat na gawin natin ay gumawa ng mga material na madaling maiintindihan ng mga kababayan natin at ikalat ito sa traditional at social media (That's why the best recourse might be to create material that would be easily understood by our countrymen and have it on both traditional and social media)."