Members of the Social Security System can look forward to higher salary loan amounts and more flexible terms under the agency’s revised lending guidelines that took effect December 1, a press release from SSS said.
SSS president and chief eExecutive officer Emilio de Quiros, Jr. said the new guidelines, which were approved by SSS’ governing board called the Social Security Commission on April 18, 2012, aim to align the SSS salary loan program with prevailing market conditions.
The SSS deferred the guidelines’ implementation to prepare its computerized loan system for the changes and to avoid disrupting the processing of members’ applications for the Loan Penalty Condonation Program, which was open for availment from April 2 to September 30, the press release said.
NFA exceeds quota
for rice distribution
The National Food Authority in Negros Occidental exceeded its rice distribution target by 197 percent last month, while the palay procurement achieved only 16 percent of its target, Cynthia Luz Chua, senior grains operations officer, said yesterday.
Chua said their target for rice distribution is 8,000 bags but they reached 15,773 bags last month, while the palay procurement was only 2,439 bags compared to its target of 15,000 bags.
She said palay procurement was low but this only means that traders and commercial buyers offer better prices to farmers.
still at Gov’t Center’