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Bong Go asks banks, financial facilities not to increase loan interest rates

Published Mar 26, 2020 12:00 am
By Mario Casayuran Senator Christopher Lawrence ‘’Bong’’ Go appealed Thursday to all government- and privately-owned banks, quasi-banks, credit and lending facilities, and financial institutions to refrain from increasing interest rates for consumer and commercial loans while the country is still under enhanced community quarantine. Neophyte Senator Christopher Lawrence “Bong” Go (FACEBOOK / MANILA BULLETIN) Neophyte Senator Christopher Lawrence “Bong” Go
(FACEBOOK / MANILA BULLETIN) ‘’I am also encouraging you to come up with flexible and convenient restructuring of existing loans to enable your clients to pay their arrears at a later period and at a lower amount,’’ Go, chairman of the Senate health and demography committee, said. ‘’In this time of national crisis, everybody must sacrifice for the greater good. Huwag po natin mas pahirapan pa ang taumbayan." (Let us not make life for our countrymen any harder.) Go said both government and the private sector must work together and do what might be deemed necessary to address and respond to the growing threats of COVID-19, and the socio-economic impact that comes with it. ‘’We appeal for everyone’s cooperation and compassion. Magbayanihan po tayo. Tulungan nating bumangon ang bawat Pilipino bilang isang nagkakaisang bansa," he said. (Let us practice bayanihan. Let us help every Filipino get back on their feet as a united nation.) ‘’Together, we can heal as one,’’ he added.
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