Cayetano wants improved SMEs’ access to capital

February 14, 2013 11:30 pm 

By Jelly Musico

MANILA, Feb. 14 – Senate minority leader Alan Cayetano Thursday urged the government to enact measures increasing the access of small and medium enterprises’ (SMEs) to capital.

”If we are truly growing then this should trickle down to the people in terms of lower prices of commodities, increase in number of jobs, and higher wages for all Filipinos. Growth should be felt by all,” Cayetano said in a media interview after witnessing a mass wedding of 150 couples in Taguig City.

The minority leader said that according to the market vendors, so much of their income is lost due to high interest rates given by “5-6” operators.

“These people turn to 5-6 operators because they have no means of funding their businesses otherwise. So they get charged an interest of 20 percent instead of just a standard affordable interest of, say 6 percent,” he said.

“People should feel the 6.6 percent growth and not have to resort to ‘5-6’ just to make ends meet,” he added.

At the Team PNoy’s grand proclamation rally last Tuesday, Cayetano personally relayed to President Aquino the request of the market vendors asking for more access to capital.

”These market vendors promised to pay religiously if the government would offer them loans with lower interest rates,” Cayetano said.

The minority leader said that according to the market vendors, so much of their income is lost due to high interest rates given by “5-6” operators. (PNA)

HBC/JFM

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