GSIS loans for typhoon-hit members
By Michelle Remo
Philippine Daily Inquirer
First Posted 22:40:00 07/04/2008
MANILA, Philippines -- The Government Service Insurance System said it would provide loans to members who were seriously affected by Typhoons “Frank” (international codename Halong) and “Cosme” (Fengshen).
In a statement, the GSIS said members who may avail themselves of the emergency loan, worth P20,000 for each eligible loan applicant, are those who work in government offices located in areas devastated by the two typhoons last month.
GSIS said these areas, earlier declared to be in a state of emergency due to the typhoons, are Baguio City and the provinces of Samar, Pangasinan, La Union, Iloilo, and Antique.
The emergency loan will carry an interest rate of eight percent per annum and payable in equal monthly installments for three years. The monthly amortization of P688.89 shall be deducted from the salaries of the borrowers beginning in the fourth month after the loan is released.
Meanwhile, the GSIS resumed its word war with the Lopez-controlled Manila Electric Co. as its president and general manager, Winston Garcia, urged college students to take a more proactive approach in protesting what he called the continuous overcharging and other misdemeanors Meralco has been committing against its 4.4 million customers.
In a forum on Energy and Consumer Rights organized by the Union of Catholic Student Councils of the Philippines (UCSC) at the San Beda College campus in Mendiola, Garcia stressed that through discussion forums, blogs and other venues, students can make a difference in denouncing the alleged excesses of Meralco against its customers.
“Never underestimate the power of the youth,” Garcia said during the forum. “This country underwent great changes because of student activism.”
He explained that no one is spared from the burden of paying a high cost of electricity, even students.
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