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Gov’t sets another 30-day grace period on loans, rent

/ 05:40 AM May 08, 2020

Borrowers, tenants and lessees have another 30 days after the lifting of the community quarantine to pay their loans and rent, the Inter-Agency Task Force (IATF) on Emerging Infectious Diseases said in its Resolution No. 33 approved on Wednesday.

All banks, financial institutions, the Government Service Insurance System, the Social Security System and the Pag-Ibig fund were ordered to implement a minimum of 30-day grace period for loans “from due date or until such time that the community quarantine is lifted,” without charging interests, penalties or fees.

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Covered are loans that fall due within the quarantine period. The same grace period is imposed on residential rents falling due within the quarantine period, as well as commercial rents of sectors “not permitted to operate during that period.”

The IATF earlier imposed the 30-day moratorium on loans and rents in April, or during the first phase of the Luzon-wide enhanced community quarantine (ECQ).

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By May 15, the IATF would have reassessed the implementation of the ECQ and the looser general community quarantine based on the number of COVID-19 cases, as well as the government’s testing and critical care capacity.

Food safety guidelines

Presidential spokesperson Harry Roque told a press briefing on Thursday that the IATF has adopted a food security framework and food safety guidelines for the agriculture and fishery sectors.

The task force also adopted the recommendations of the National Economic and Development Authority on supply chain issues, including the creation of a subtechnical working group to be chaired by the Department of Health that will craft a national framework to increase the physical and mental resilience of the general public.

The Department of the Interior and Local Government was meanwhile ordered to assist the Department of Transportation and local government units in ferrying stranded students back to their provinces under the Hatid Estudyante program.

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TAGS: banks, coronavirus disease, coronavirus Philippines, COVID-19 Philippines, extention, health crisis, IATF, loans, pandemic, Quarantine
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