By Christopher Lloyd T. Caliwan (philstar.com), January 10, 2017
MANILA, Philippines (Philippines News Agency) — Justice Secretary Vitaliano Aguirre II on Tuesday said that persons especially Indians engaged in the lending business more commonly known as “5-6” would be arrested even without a warrant of arrest.
In a press briefing, Aguirre said the interest in the “5-6” lending activity is legal after the repeal of the Usury Law and the removal of interest ceilings.
But the Department of Justice secretary said operating a lending business requires a permit and other requirements.
“Pinapahuli ni presidente mga bumbay (Indians) na nagpapa 5-6, kawawa [naman ang] mahihirap [sa] 20 percent na taas [ng interest]. They could be arrested without any warrant. When they’re doing that they’re committing a crime,” he told reporters.
The government will push for the implementation of the nationwide micro lending program to address the “5-6” loaning business.
Earlier, President Rodrigo Duterte said the “5-6” scheme has become a burden to Filipinos, especially for those who have no other resort.
Many micro, small and medium enterprises usually resort to “5-6” lenders who are usually Indians.
The president said Filipinos had been experiencing such conditions but it had not been noticed for a long time.
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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