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Manila Bulletin devider Philippines devider Cops given 30-day reprieve on salary loans 

Cops given 30-day reprieve on salary loans 

Published Apr 6, 2020 12:00 am
By Aaron Recuenco Policemen with existing loans from any of the six accredited financial institutions that provide financial services to personnel of the Philippine National Police (PNP) were given a 30-day moratorium on salary deductions. PNP chief Gen. Archie Gamboa (PNP / MANILA BULLETIN) PNP chief Gen. Archie Gamboa
(PNP / MANILA BULLETIN) PNP chief Gen. Archie Francisco Gamboa said he has already tasked the Directorate for Comptrollership to find ways to give the reprieve for PNP personnel. This is one way of assisting them from the adverse effects of the Corona Virus Disease (COVID-19). “I already tasked the Directorate for Comptrollership to coordinate with the accredited private lending institutions with regard to the suspension of loan deductions in order to augment the financial capabilities of PNP personnel,” said Gamboa. “Through this, our personnel will have an increased take home pay which in turn shall benefit their respective families especially during the implementation of the Enhanced Community Quarantine in Luzon,” he added. Brig. Gen. Marni Marcos, head of the Directorate for Comptrollership, said the 30-day reprieve will take effect in the April 2020 pay period. Marcos has instructed the PNP Finance Service to effect the changes in the April payroll of 205,000 active-duty PNP personnel. The financial institutions are the Armed Forces and Police Savings and Loan Association Inc. (AFPSLAI), Public Safety Savings and Loan Association Inc. (PSSLAI), Air Materiel Wing Savings and Loan Association Inc (AMWSLAI), PNP Provident Fund, Public Safety Mutual Benefit Fund Inc (PSMBFI), and Armed Forces and Police Mutual Benefit Fund Inc (AFPMBAI). Marcos said they have implemented their respective 30-day suspension of monthly payment of loan accounts of PNP members without penalty as provided under Republic Act 11469 or Bayanihan to Heal as One Act. “It is understood, however, that loan payment terms will be extended for one month and monthly amortization will resume in May 2020,” said Marcos.
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