DTI warns of Pondo sa Pagbabago at Pag-asenso scam

The Department of Trade and Industry (DTI) on Wednesday warned the public against an unscrupulous group that supposedly collects fees for the government's loan program.

In a statement, the DTI noted its Region X office has identified a group called "Hugpong Federal Movement of the Philippines” that supposedly collects P100 from individuals in several barangays and municipalities in Misamis Oriental.

"The group claims that the fee is intended for the procurement of an identification card (ID) which will then be presented to any DTI office in the region," the department said.

"They assert that through the ID, the listed registrants can claim a P15,000.00 loan under the Pondo sa Pagbabago at Pag-asenso (P3) program," it added.

This scam is said to have reached as far as the CARAGA region, according to the DTI.

"DTI strongly warns the public of such motives," the department emphasized.

It noted that attached agency and financing arm, Small Business Corp., handles the P3 Program and "does not collect fees."

Jade Montero, SB Corp. officer in Region X, denies the group’s claim. "SB Corp. only recognizes government-issued IDs as of proof of identification."

He also encouraged small enterprises intending borrow under the P3 program to visit the nearest DTI office to inquire about the guidelines of loan program.

DTI Region X said the program has not yet rolled out in the region.

"The province of Bukidnon is identified as the priority area. Unfortunately, Misamis Oriental is excluded in the initial implementation of the program," it said. — Ted Cordero/VDS, GMA News