The post of Manny Piñol about the order of Pres. Duterte went viral on the social media.
Manny Piñol’s social media post went viral after he stated the order of President Rodrigo Roa Duterte to arrest and deport the foreign money lenders involved in ‘5-6’ scheme.
Pres. Duterte, the tough-talking former mayor of Davao City, does not only desire to clean the Philippines from the presence of illegal drug trades and corruption. The 71-year-old President also wants to help the poor Filipinos.
Recently, a post on the social media went viral after Filipino writer Manny Piñol stated the order of Pres. Duterte to arrest and deport the foreigners who are involved in ‘5-6’ scheme of lending money.
According to the post of Piñol in his Facebook account, the President’s order to nab and sent back home the foreigners who are involved in ‘5-6’ scheme of money lending came after the desire of Pres. Duterte to save the less fortunate vendors.
Piñol also stated in his post that the 71-year-old President also made an announcement about the P1-B initial fund allocated for a ‘micro-lending program’. According to the post, the program is set to ‘provide loans for small business capitals’.
The Filipino journalist also entailed in his post the statement of Pres. Duterte during the meeting held the previous night as he expressed that what the foreign money lenders who adapt to ‘5-6’ money lending scheme is doing is too much.
Furthermore, it is stated in the post that the ‘5-6’ money lending scheme has around 50,000 Punjabis involved. It has also been emphasized in the post that the high-interest rates make it hard for the borrowers.
Moreover, Piñol stated in his post the claim of Department of Trade and Industry Sec. Ramon Lopez.
According to Lopez, the ‘inability’ of the lending institutions of the government ‘to provide an easy access facility’ for businessmen who only have small businesses resulted to the growth of ‘5-6’ money lending scheme.
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The social media post went viral and has already reached more than two thousand nine hundred shares as of Tuesday. Many netizens have also dropped their comments to the post.
El Go Vie commented:
[Right. That’s the best. Include the lenders who don’t pay taxes to the government.]
Dei Yu commented:
[But hopefully the borrowers would be urged to pay, not because it is the government who lends money, they would run away.]