Don’t expect President Duterte to keep diplomatic niceties in the crackdown on the “5-6” money lending scheme.
The President is planning to confront the government of India on the alleged involvement of its nationals in lending money with extremely high interest rates and selling overpriced appliances to the Filipino poor.
Duterte said he wants such frank discussions with India amid his dismay with loan sharks who oppress cash-strapped Filipinos.
“I would like to officially talk to the Indian government regarding itong mga 5-6 (money lending scheme),” the President said in an interview with reporters in Davao City Saturday night.
“Okay lang magpahiram sila ng pera pero ang bagong style nila, pahiramin nila ng pera ang pobreng Pilipino tapos pabilhan pa ng mga refrigerator, mga appliances so doblado ang kalbaryo ng Pilipino,” he said.
If money lenders take advantage of the poor, the President said he would “get angry because you are oppressing my country.”
“Hindi tayo magkakaintindi dyan. Mabuti na yung prangka-prangka para wala ng…skip the diplomatic talkies, diretsuhan tayo,” he said.
To combat informal lending practices, the government intends to set aside almost R1 billion for every region to provide easy access to financing to Filipinos. “I’m releasing almost in the coming days R1 billion per region.
Pahiram ko lang sa mga tao,” Duterte said.
Last month, the President ordered a crackdown on foreign loan sharks who operate without permits in the country. He said these foreigners, who offer loans with high interest rates, must be arrested and deported back to their home country. (Genalyn D. Kabiling)