Thursday, October 12, 2006
Forum to address market vendors' woes set Oct. 13
THE availability of a micro-financing option that imposes low interest rates will somehow affect the price level of goods in the wet markets, the Department of Trade and Industry (DTI)-Southern Mindanao said.
DTI assistant secretary Merly M. Cruz said if market vendors would have an access to a micro-financing window that will give them the chance to enjoy lower interest rates on their loans, there's a big possibility that their products will be sold at lower costs.
"Right now, they are into availing the loans offered by loan sharks or 5-6. Accordingly, their loans are getting exorbitant interest rates. As a result, they have to sell their products, for example vegetables, at higher price levels in such a way that they can pay their loans and at the same time have something left for their family," she said.
Cognizant to this scenario, the agency decided to come up with a Micro-financing Forum that will be participated in by market vendors' cooperatives and associations throughout the Davao Region.
The forum, slated on October 13 at Garden Oases Resort and Restaurant, Bo.Obrero, Davao City, shall carry the theme "Pasiglahin ang Palengke, Pasiglahin ang Bayan."
"This is our way of further empowering these cooperatives and other organizations. The activity will also feature some micro-financing programs of the government, which they can avail of," Cruz said.
During the forum, three resolutions that are anchored on the development of the market vendors will be presented to Trade Secretary Peter B. Favila.
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