LGU P’sinan under LAP distributes P10.4M to 62 groups
The Pangasinan Provincial Government through its Livelihood Assistance Program (LAP), has distributed a total of P10.4 million to 62 associations, cooperatives and micro, small and medium enterprises (MSMEs) on June 14.
Held at the Narciso Ramos Sports and Civic Center (NRSCC) gymnasium in Lingayen, the latest distribution is the biggest in terms of the amount released and the number of beneficiaries since LAP was launched in 2008.
Based on the record of the Provincial Population Cooperative and Livelihood Development Office (PPCLDO), a total of P205.9 million has been released since 2008 under the tenure of then Governor Amado T. Espino, Jr. Of the said amount, P135.7 million has been released under the present administration thru the stewardship of Gov. Amado “Pogi” I. Espino III.
Commending the good rate of return of investment, the governor disclosed that another five cycles will be added to further support the beneficiaries in their investment schemes. From the five cycles offered in 2008, the present administration has twice added the cycles to eight and then again into ten cycles.
“For the past 13 years, the rate of return of investment is good,” Gov. Pogi stated as he added that his administration will find ways to increase the loanable amount to P300,000. Due to the Covid-19 pandemic, the LAP provides zero interest rate.
Expressing gratitude to the Espino administration, Beatriz Torreno, chairperson of Dorongan Punta Women’s and Farmers Multi-Purpose Cooperative in Mangatarem, said the program is a big help for new groups such as their cooperative in starting their venture. “Malaking pasasalamat ko po kay Gob. sa tulong na ito lalo na ngayon na may pandemya. Sana po patuloy nila kaming tulungan para makaiwas kami sa paghiram ng loan na may malaking interes,” she said.
On the other hand, Letecia Lofranco, chairperson of Bigay Biyaya Multi-Purpose Cooperative in Rosales town, thanked Gov. Espino for extending the cycles to 15 as she noted that this will lessen their burden in applying loans from financial institutions which has higher interest rate. “Mahina ngayon ang negosyo dahil sa pandemya. Nagpapasalamat kami kay Gob. kasi dinagdagan ang cycle. Hindi na kami uutang sa 5/6,” she stated.
A total of 71 releases were conducted since LAP was launched 13 years ago and of this number, 27 releases were done under Gov. Pogi’s administration.
Loan releases vary from P100,000 to P250,000 depending on the type of projects undertaken by the beneficiaries.
Projects for regular LAP include farm inputs, re-lending, commodity trading while for MSMEs type of projects vary from bread and pastry production, fish processing, banana chips-making, oyster mushroom production, dishwashing liquid production and buy and sell of prawns and crabs.
In today’s distribution, there were 55 regular LAP and seven MSME group beneficiaries. Joining Gov. Espino in the distribution activity were Provincial Administrator Nimrod S. Camba, Provincial Population, Cooperative and Livelihood Development Officer Ellsworth Gonzales and Provincial Social Welfare and Development Officer Emilio Samson. /Ruby R. Bernardino
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