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Cayetano’s PTK boosts Baguio’s agri and tourism sectors

Baguio city’s market vendors are enjoying the fruits of Senator Alan Peter Cayetano’s PTK (Presyo, Trabaho, Kita/Kaayusan) program that gave them easier access to capital with low interest rates and helped them sustain their sources of livelihood. Cayetano reiterated his commitment to help poor Filipino families reap the benefits of the country’s growing economy thru his PTK agenda.

Despite the abundant economic opportunities in Baguio City, small businesses continue to have a difficult time taking full advantage of the boom in the city’s agriculture and tourism sectors.

“Ang entrepreneurs kasi, ang kailangan nila ay kapital talaga. Pero ang nagiging takbuhan lang ng maliliit na negosyante dito ay ang 5-6 loan sharks na napakataas kung maningil,” said Myrna Aquino, manager of the Bamapcom Entrepreneurs’ Multipurpose Cooperative (BEMC).

With no other easy access to capital to fund their businesses, vendors and small-scale entrepreneurs would often resort to borrowing money from 5-6 loan sharks that charge high interest rates.

Help came in the form of Senator Alan Cayetano’s PTK (Presyo, Trabaho, Kita/Kaayusan) program.

With an initial grant of P200,000 received last January 2014, BEMC gave out loans to members with only a 1.5-percent interest and a 1.5-percent service fee. Last year, 454 members availed of the loans.

“Sa pondo na binigay ni Kuya Alan, dumami lalo ang nahikayat naming myembro, kaya mas marami kaming natulungang mag-umpisa ng sarili nilang negosyo,” Aquino said.

With members paying their loan obligations religiously, the initial fund increased to P353,065. The earnings were distributed to members in the form of dividends and patronage funds.

As of April this year, BEMC was able to extend loans to 193 more members.

“Hindi lang din kapital ang naitulong ng PTK ni Kuya Alan sa buhay ng mga taga-Baguio. Sa kapital na ito, nakakabili sila ng mas maraming produkto sa mas murang halaga. Kaya naibebenta din nila ang mga ito sa mas mababang presyo. Kapag lumalaki naman ang negosyo nila, nagkakaroon ng mas maraming trabaho para sa mga taga-Baguio,” Aquino said.

Sen. Cayetano’s PTK program has already helped hundreds of entrepreneurs in several provinces reap the benefits of the country’s growing economy. He said he aims to create real change that will make people’s lives better.

Cayetano said, “Let’s make real change by addressing the people’s most basic concerns: high prices of goods, lack of jobs, and low income. This is the thrust of our PTK program.”

Source: newscentral.ph

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