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By the end of 2024, each Filipino carries a debt burden of P141K. Senate Minority Leader Koko Pimentel III expressed grave concerns regarding the rapid escalation of the country’s national debt, which is on track to reach an unprecedented P15.8 trillion by the end of the coming year, burdening every Filipino with a staggering debt […]
To protect ordinary Filipino borrowers from harassment and unethical practices perpetuated by predatory lenders, Senator Win Gatchalian has moved to regulate the debt collection practices of financing and lending companies. Gatchalian, vice chairman of the Senate Committee on Economic Affairs, has filed Senate Bill No. 1366 (SBN 1366) or “The Fair Debt Collection Practices Act,” […]
The circumstances surrounding the death of a Chinese national recently merits a closer scrutiny by labor inspectors who should assess whether the victim’s employer complies with pertinent labor standards and regulations, according to Senator Joel Villanueva. Villanueva, chair of the Senate Committee on Labor, Employment, and Human Resource Development, likewise called on the Department of […]
Senator Sherwin Gatchalian warned against a potential government takeover of the debt-ridden Korean company Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), stressing that the best option is to attract established shipbuilders to operate the firm. Gatchalian said it is “not prudent” for government to take over Hanjin, given its poor track record in taking over […]