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Manila Bulletin devider Philippines devider National devider DSWD plans to penalize loan sharks who accept 4Ps ATM card as collateral

DSWD plans to penalize loan sharks who accept 4Ps ATM card as collateral

Published Feb 4, 2024 08:01 am

The Department of Social Welfare and Development (DSWD) intends to penalize loan sharks in order to prevent them from using Pantawid Pamilyang Pilipino Program (4Ps) cash cards as collateral.

The 4Ps National Program Management Office (NPMO) of the DSWD has already proposed amendments to Republic Act No. 11310, also known as the 4Ps Law, that would penalize loan sharks for accepting cash cards as pawn.

For now, the penalty for pawning cash cards to loan sharks is the removal of 4Ps beneficiaries from the program.

Director Gemma Gabuya, National Program Manager of 4Ps, also urged beneficiaries to avoid dealing with loan sharks and pawning their cash cards.

“Nag-iispot check kami during the family development sessions na dapat dala nila ang ATM, dahil bawal ‘yun [pagsasanla ng 4Ps cash card]. They can be delisted from the program (We conduct spot check during family development sessions that they should bring their ATM, because pawning their 4Ps cash card is not allowed. They can be delisted from the program),” she pointed out.

She also advised 4Ps beneficiaries to be model citizens who follow the program's rules, as they could be delisted for misbehavior after three warnings if it is discovered that they are pawning their cash cards to loan sharks.

“You have to take care of the resources of the government. Ikaw dapat ang nag-momodel kung ano ang mukha ng programa (You should act as the model of this program),” Gabuya said.

The 4Ps is the Philippine government's national poverty reduction strategy and human capital investment program, which provides conditional cash transfers to improve the health, nutrition, and education of children aged 18 and under.

The 4Ps has two types of cash grants that are given out to household-beneficiaries—health grant: P750 per household every month, or a total of P9,000 every year; and education grant: P300 to P700 per child every month for 10 months, or a total of P3,000 to 7,000 every year.

Specifically, the maximum monthly education grant for each child enrolled in childcare and elementary programs is P300; for children enrolled in junior high school, the maximum monthly grant is P500; and for children enrolled in senior high school, the maximum monthly grant is P700.

A household may register a maximum of three children for the program.

Related Tags

DSWD Pantawid Pamilyang Pilipino Program 4Ps
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