MANILA, Philippines -- Financial institutions in Pasig City -- banks, pawnshops and money changers, among others -- have until next month to comply with a local ordinance mandating the installation of closed-circuit television (CCTV) cameras in these establishments.

Pasig Mayor Robert Eusebio made the rounds of some banks in Pasig to check their compliance with Pasig Ordinance No. 24 and remind those that have yet to do so.

Eusebio said non-compliance with the ordinance is punishable with a fine of P5,000 or imprisonment of one to six months.

So far, he said, 60 to 70 percent of banks in the city have complied. Pasig hosts about 300 banks, the bulk of these at the Ortigas business center.

The ordinance also mandates establishments to keep their CCTV tapes for two weeks as a future reference in the event of a crime.

Eusebio said the ordinance was passed particularly to protect banks and their customers from robberies.

“So if there is a robbery, we will be able to pinpoint them,” said Eusebio.

Pasig chief of police Senior Superintendent Francisco Uyami said the remaining 30 percent of establishments that are still without CCTV cameras are mostly unable to comply due to a lack of an immediate budget to buy the equipment.

“They are saying that they have no board resolutions yet to approve the additional equipment. They also say that it is expensive and that they do not have an immediate budget for it,” said Uyami.

He appealed to the non-complying firms to start installing their CCTVs before next month’s deadline. He said the cost of putting up a CCTV is minimal compared to the protection it will give both the establishment and its customers.