Pangasinan bans pawning 4Ps docs as loan collateral “Punishes loan sharks taking in 4Ps docs”

BAGUIO CITY (November 29, 2024) -- The Sangguniang Panlalawigan of Pangasinan is banning the practice of pledging Pantawid Pamilyang Pilipino Program or 4Ps Cash Cards as loan collateral.

Provincial Ordinance No. 331-2024 also punishes individuals, groups, business establishments, and loan sharks to extend cash loans to accept Cash Cards and 4Ps IDs, Oath of Commitment as collateral or security for cash loan or any form of indebtedness.

The Ordinance also bans people to act as middle-man or runner in any pawning practice and activities related to 4Ps.

People are also barred from collecting service fee or any other form of collection attributed to Cash Cards, 4Ps IDs and Oath of Commitment.   Firms are also banned to collect interest payment from 4Ps beneficiaries.

Fine for violating the Ordinance is P2,000 and 5 days of imprisonment for the first offense.  A fine P3,000 and 15 days imprisonment for the second offense at the discretion of the courts and



P5,000 and 30 day-imprisonment for the third offense at the discretion of the courts.

 The Ordinance according to the Pangasinan SP aims to protect the welfare of 4Ps beneficiaries, ensure the proper use of government funds, and safeguard the integrity of the program, particularly with regard to children's rights to health and education.