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Manila Bulletin devider Philippines devider National devider Mark Villar urges GOCCs to implement loan moratorium, penalty relief amid oil crisis

Mark Villar urges GOCCs to implement loan moratorium, penalty relief amid oil crisis

Published Apr 9, 2026 01:30 pm

At A Glance

  • Senator Mark Villar has filed a measure calling on government financial institutions to implement loan moratoriums, grace periods and penalty condonation to help Filipinos cope with the rising costs of fuel.

Senator Mark Villar has filed a measure calling on government financial institutions to implement loan moratoriums, grace periods and penalty condonation to help Filipinos cope with the rising costs of fuel.

Villar filed Senate Resolution No. 366 urging government owned and controlled corporations (GOCCs) engaged in lending—the Social Security System (SSS), Home Development Mutual Fund (Pag-Ibig), National Home Mortgage Finance Corp. (NHMFC), Social Housing Finance Corp. (SHFC), Development Bank of the Philippines (DBP), Land Bank of the Philippines (Landbank) and other similar entities, to provide such temporary relief measures, including suspension of loan payments, waiver of penalties and flexible payment terms, to ease the burden of borrowers and members amid the existing national energy emergency.

“Dapat nating bigyan ng agarang ginhawa ang ating mga kababayan. Ang pansamantalang suspensyon ng bayarin at pagtanggal ng penalties ay malaking tulong upang makabangon sila sa gitna ng krisis (We must provide immediate relief to our countrymen. The temporary suspension of fees and the removal of penalties will be a great help to them in the midst of the crisis),” Villar said.

The resolution, in particular, proposes a one- to three-month loan moratorium, penalty condonation, loan restructuring, interest-rate reduction, and expedited calamity or emergency loan approval with built in grace period, noting that these practices were, modeled after past emergency responses, to prevent defaults and support economic recovery.

“Naging matagumpay po ang implementasyon natin nito sa Bayanihan to Recover as One Act, and nakita natin ang positibong impact nito sa matanggumpay na implementasyon ng Balik Ginhawa ng GSIS, accomplishing the end goal of providing cash relief to eligible members and pensioners (Our implementation of this was successful in the Bayanihan to Recover as One Act, and we have seen its positive impact in the successful implementation of GSIS's Balik Ginhawa, accomplishing the end goal of providing cash relief to eligible members and pensioners,” added Villar.

Previously, the SSS said it is already studying providing loan moratoriums and penalty condonation. The Bangko Sentral ng Pilipinas (BSP), on the other hand, is moving to freeze loan penalties for affected borrowers.

If adopted, the measure is expected to provide immediate financial relief while ensuring the continued fund stability of GOCC’s and other government financial institutions (GFIs).

“Hindi natin alam kung kailan ang hangganan ng krisis na ito. Kaya dapat magtulungan at magbayanihan tayo, higit sa lahat ay ibigay natin sa taumbayan, lalo na sa mga manggagawa ang tulong o assistance na makakapagbigay ginhawa sa kanila (We do not know when this crisis will end. That is why we must work together and support each other, above all, let us give the people, especially the workers, the help or assistance that will provide them with comfort),” the senator stressed.

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