Republic of the Philippines
PROVINCE OF PANGASINAN
Lingayen
www.pangasinan.gov.ph
OFFICE OF THE SANGGUNIANG PANLALAWIGAN SECRETARY
Provincial Ordinance No. 274-2021
Page 2
SECTION I. CONDONING INTEREST ON LIVELIHOOD ASSIST.ANCE LOANS.
A. The four percent (4%) interest to be imposed from association /cooperatives, four (4%) interest to be imposed upon micro entrepreneurs with loans below Php 150,000.00 and five percent (5%) interest to be imposed upon micro entrepreneurs with loans Php 150,000.00 and above during the pandemic period, from March 2020, up to December 2021 are hereby condoned and waived.
B. Coverage. All loans, both new and renewed, which have been approved and granted after the declaration of community lockdown in March 2020 until the last working day of December 2021 shall enjoy this condonement of interest.
C. All other loan terms agreed to, such as loan cycle and repayment schedule shall remain to be observed for all types of loans availed under the PLAP.
SECTION 2. SEPARABILITY CLAUSE. If for any reason, any section or provision of this Ordinance shall be deemed unconstitutional or invalid by any competent authority, such as judgment or action, other sections or provisions there of shall not be affected or impaired.
SECTION 3. REPEALING CLAUSE. All ordinances, executive orders, rules and regulations, or part thereof, in conflict with or inconsistent with any provisions of this Ordinance are hereby repealed.
SECTION 4. EFFECTIIITY. This Ordinance shall take effect immediately upon its approval.
CERTIFIED BY
VERNA T. NAVA-PEREZ
Secretary to the Sanggunian
ATTESTED:
MARK RONALD DG. LAMBINO
Vice Governor
(Presiding Officer)
APPROVED:
AMADO I. ESPINO III
Governor
