AFP chief urges soldiers to invest in stock market

In a bid to increase soldiers’ income, Armed Forces of the Philippines (AFP) chief Lt. Gen. Alexander Yano said he would encourage troops to invest in the stock market.

In an interview, Yano said he welcomes the move of the Philippine Stock Exchange (PSE) to conduct free seminars on stock trading for soldiers to help them come up with alternative sources of income for their families.

“It’s a big help. As you know we soldiers are not that economically well off, so with this assistance to teach us the stock market, hopefully our soldiers – officers and enlisted personnel – can make good investments,” he said.

The AFP top brass said he also wants to attend the seminars to learn how he could have additional source of income, especially after his retirement.

PSE president Francisco Lim earlier said they hope that the seminar would enlighten soldiers on how to keep their savings and have another source of income for their families.

“We all know of course that there are risks involved in investing in the stock market but our aim in holding these seminars is to enlighten the soldiers about alternative investment areas where they can keep their savings and where they can earn potential extra income. Our market education department people are ready to touch base with the AFP in finalizing the schedule and details of these free seminars,” Lim said.

Yano said the free seminars on stock market investment could initially be conducted at the general headquarters and subsequently at the Army, Navy and Air Force headquarters.

An officer with a rank of lieutenant earns a gross pay of P21,000 a month, with P3,000 as allowance.

An ordinary private has a gross monthly income of P13,000, which increases by 10 percent every five years in the service.