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Tuesday, April 27, 2021

Moratorium with strings attached: GSIS urged to cancel ‘unjust’ loan interest for teachers

By Billy Begas

The Alliance of Concerned Teachers (ACT) urged the Government Service Insurance System (GSIS) to cancel the “questionable and unjust” accrued interests it charged on loans when the government suspended the collection during the Enhanced Community Quarantine (ECQ) last year.

“Nagulat ang mga guro na pagkatapos pala magkaroon ng moratorium sa pagbabayad ng utang noong ECQ ay bigla silang sisingilin ng interes sa utang para sa mga buwan ng Abril, Mayo, at Hunyo noong 2020,” said ACT Secretary General Raymond Basilio.

ACT has sent a letter to the GSIS to air teachers’ grievances and request for a dialogue.

“The collection of accrued interest is against Republic Act No. 11469 or ‘Bayanihan to Heal as One Law’, which explicitly provided for the implementation of a grace period for payment of loans during the ECQ months without incurring interests, penalties or other charges,” Basilio explained.

Basilio also pointed out that the charging of interest defeats the purpose of bringing relief to borrowers who were suffering from the pandemic and the economic crisis.

“Habang nag-aabono ang mga guro sa laptop, internet, modules at mas mataas na konsumo sa kuryente, sumabay pa itong accrued interest na lalong nagpaliit sa kanilang take home pay gayung napakaliit na nga ng kanilang sweldo,” lamented Basilio.



Source: Latest Politics News Today (Politics.com.ph)

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