Pacquiao wants law punishing ‘5-6’ lenders
FILE PHOTO: Presidential candidate Manny Pacquiao. INQUIRER FILE PHOTO
MANILA, Philippines — Presidential candidate Senator Manny Pacquiao on Friday said that should he win in the May 9 elections, he would ask Congress to craft a law punishing loan sharks engaged in the infamous “5-6” money lending scheme.
Pacquiao described loan sharks as “inhumane” as they further push pool people further into poverty due to high interest rates.
“‘Yung 5-6 na nagpapautang, hindi ‘yan makatao. Hindi ‘yan makatarungan. Talagang lalong dinidiin ‘yung mahirap,” he said in an interview, saying he wants to punish loan sharks.
“Pag-aralan nating mabuti kasi hindi naman tayo gagawa ng batas niyan, i-request lang natin sa Congress para gawan natin ng paraan,” he said when asked what kind of penalties he wants against loan sharks.
(Let’s study it vigorously because we would not be the ones crafting the law, I will only request that to Congress.)
Article continues after this advertisementApart from punishing loan sharks, Pacquiao said that if elected, he would allocate funds for loans for small businesses that have no interest.
Article continues after this advertisement“Ibabalik lang nila puhunan kapag lumago na ‘yung negosyo nila,” he added.
(They will only give back the money when their business has bloomed.)
RELATED STORY:
Pacquiao vows decent housing, interest-free loans for Manila vendors if elected president
