Monday, October 27, 2014

Senator Cayetano turns Funds to Dagupan Jeepney Organization

Senate Majority Leader Alan Peter “Companero” S. Cayetano personally turned over to the Dagupan City's Transport Group financial assistance funds that will be used to bankroll a microfinancing program for hundreds of its members.
Senator Alan Peter Cayetano with wife Taguig City Mayor 
Lanny Cayetano after they disembarked from their chopper
to distribute P100 thousand seed monies for a trans-
port group in Dagupan City. Earlier the solon 
gave the same group P100 thousand as fund for their
other business endeavor. Cayetano's program is under
his Presyo, Trabaho, Kita (PTK) Platform

The funds are meant to offer the organization’s members small loans at very low interest and easy payment schemes.

“During this period of strong economic growth, what all Filipino families need and deserve is a kind of action from government that is free from corruption. They need to feel that they are part of this country’s development. Despite the recent corruption anomalies involving some public officials, we vow to remain committed to our goal of helping the people in their fight against poverty,” the senator said.

Cayetano on Saturday (October 25) met with officials and members of the transport group and handed a total of P 100 thousand worth of funds, which is envisioned to aid individual members and discourage them from borrowing money from loan sharks that charge very high interest rates.

Dubbed as the “Kontra 5-6” Program, the project in part breathes life to the promises made by Cayetano during his campaign for reelection in the 2013 polls, where he launched the Presyo, Trabaho, Kita (PTK) platform aimed at promoting projects that lower the prices of goods, create more jobs, and increase people’s income.

The microfinancing mechanism allows members of cooperatives, entrepreneur groups and organizations more and wider access to capital that they can use to improve their livelihood and increase their income.

“We hope that with this fund, the members will be able to borrow money without fear that a large portion of their incomes will go to the payment of high interest rates from the resident 5-6. We designed this program to be easy, simple and sustainable,” Cayetano said.

“By working together on projects that provide direct assistance to those who are in need, in our own way, we can help the government achieve the goal of making all Filipino families, especially the poor, reap the benefits of our growing economy so that in this period of development, nobody gets left behind,” he added.

Cayetano noted that aside from providing a source of fund for the livelihood of the transport group in the province, the anti 5-6 program may also aid in the development of the local economy of Dagupan City by catering to the needs of its transportation sector.

“These hardworking people are not just PUV drivers. They are also drivers of the country’s economy. I believe they deserve to get all the assistance that they need to sustain their livelihood. So we decided to grant them access to capital through our program,” he said.

To date, programs under the PTK agenda have already provided a total of hundreds of thousands of pesos worth of capital donated to two local cooperatives and organizations in the city that cater to different sectors of society.

Side by side with the Kontra 5-6 Program, the senator said he will strongly push for legislation that will institutionalize this kind of microfinancing model all throughout the country so that more sectors in society can benefit from the lending system. ###

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