Sunday, October 04, 2009

Speaker Nograles to prioritize measure suspending SSS, GSIS loan payments of typhoon victims

MANILA, Philippines - Speaker Prospero Nograles said the House is committed to fast track the passage of House Resolution Number 47 which would mandate all government financial institutions such as the GSIS, SSS and Pag-ibig to immediately effect suspension for at least 90 days loan payments and condonation of interests and penalties of borrowers who are victims of typhoon Ketsana as a form of financial and economic relief.

Responding quickly to the humanitarian crisis that was caused by the devastation of typhoon Ketsana, the House approved on second reading HR 47 and Nograles expressed confidence that the Senate will give the same level of priority for this measure to lessen the pain and anguish of the victims.

HR No. 47 also urges other financial institutions from the private sector to do the same.“I'm confident that we can pass this measure the soonest. It is now a top a priority of the House and hopefully the Senate,” Nograles said.

HR No. 47 was sponsored during plenary by Majority Leader Arthur Defensor, Minority Leader Ronaldo Zamora and principally authored by Representative Darlene Custodio.

Defensor, Custodio and Zamora pointed out that the relief mechanism being espoused by the government in the form of calamity fund release and loans may not be enough considering that emotional, social and economic recovery proves to be difficult, especially if it concerns sudden loss of lives and dwellings.

“Ondoy's devastating effects cannot be overstated given the rising death toll and damage to affected areas as many are still missing and the cost of damage to and loss of properties is yet to be determined in actual terms,” they said.

Ondoy was the local codename for typhoon Ketsana.

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