Binay calls on financial agencies, offices to impose six-month to one-year loan payment moratorium for Taal victims

(Eagle News)–Senator Nancy Binay has urged financial agencies and offices to impose a six-month to one-year loan payment moratorium for those affected by the volcanic activity of Taal volcano.

Covered by Binay’s appeal were the Social Security Service, Pag-Ibig and the Government Service Insurance System.

She also urged local government units to refrain from seeking penalties from those affected who failed to pay real property taxes and from businesses who can’t renew their business permits because they were also affected.

Binay also called on private and government banks, lending agencies, and financial institutions to defer loan payments of borrowers in areas declared under state of calamity.

Apart from Cavite, Batangas has declared a state of calamity, with over 200,000 individuals affected by Taal’s activity, based onĀ  reports from the Batangas Provincial Disaster Risk Reduction and Management Council.

About 17,000 individuals or more thn 3,000 families in the most affected towns of Balete, Laurel, San Nicolas, Talisay and parts of Lipa and Tanauan City have initially been evacuated, Binay’s office said.

“We can help ease the burdens of our kababayans hit by natural calamities and a way for government agencies to show continuing concern for its members, and its way of helping out its members during their times of need,” Binay said.

An alert level 4 remains hoisted over Taal volcano, as its intense seismic activity continued.