Stricter rules for pawnshops pushed

CEBU, Philippines - The City Council is set to discuss tomorrow a proposal of Councilor Arsenio Pacaña for the Bangko Sentral ng Pilipinas to come up with measures that would regulate the kind of items to be accepted by pawnshops.

In a resolution, Pacaña said it has become the “dubious practice” of pawnshops to accept items without first thoroughly verifying its real source or the identity of the owner, including items that might have been stolen.

He contented that this seemingly lenient practice encourages thieves to steal and pawn the items in exchange for money.

Pacaña said that as a regulating body, the BSP “should address this public concern with dispatch by seriously looking into the dubious practice of pawnshops to accept pawned stolen goods without thoroughly verifying the source of the article or the identity of the owner.”

This alleged “lucrative practice” has, in turn, affected the community’s peace and order situation, Pacaña said.

BSP records show there are about 14,000 pawnshops operating nationwide.

Aside from proper regulatory guidelines, Pacaña is also asking BSP to impose penalty to pawnshops that would not violate the guidelines.

Last year, the City Council through Councilor Edgardo Labella proposed that all pawnshops and similar establishments will require valid identification cards from those persons selling or pawning cell phones. The city legislators believed that theft of cellphones and other valuables might be minimized if pawnshops will require their clients to present proof of ownership of the items they wish to pawn. — Rene U. Borromeo/JMO       (THE FREEMAN)