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Tuesday, September 28, 2004
Capitol employees to pay soft loan
By Clara Mae Hortelano
THE provincial government of Negros Occidental will collect the P17.9 million soft loans granted to capitol employees last December 2003.
Governor Joseph Marañon, in a memorandum circular, directed the provincial treasurer and accountants to collect through payroll deduction the soft loan extended to the employees starting next month.
The directive was issued in line with the comment and observation of Director Linda Solite, cluster director of Cluster IV-Visayas, Local Government Sector of the Commission on Audit dated February 27 this year.
COA earlier said the soft loans, representing cash assistance to the provincial employees amounting to P22.6 million, were not legitimate investment outlays deferring collection disadvantageous to the province.
In an interview earlier with Executive Assistant 4 Enrique Pinongan, he said 2,500 provincial government employees in December 2003 have availed themselves of soft loans at P10,000 each, payable in two years and interest free.
He added that the loan was granted to help employees cope with their financial difficulties.
The employees started paying the loan but due to some financial difficulties, they asked the SP to pass a resolution to defer the payments on the same year, he said.
With the governor's memorandum circular, employees will start paying the soft loan at P277.78 per month payable in three years.
(September 28, 2004 issue)
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