Pasay  gets new PVB loan

Pasay City Mayor Wenceslao Trinidad reported that the Philippine Veterans Bank has approved the P600 million loan that the city government sought to pay the city’s debts.

Trinidad said the new loan would be used to settle the city government’s financial obligations. 

He said they were just informed of the availability of the PVB loan, and that only the signing of important documents between the bank and the city government is required.

“We have already started settling unpaid bills of the city government. We are little by little able to address this matter. Anyway, portion of this loan will also be used for that purpose.”

City Treasurer Concepcion Daplas said that the bank had not yet released the fund pending the signing of the documents.  

Trinidad said that the acting city officials who managed the city when he was suspended last year, left a mess.

“However, since we are back to serve the people, we will assume responsibility and we are going to pay,” Trinidad said.     

He said that among the obligations that the city has been paying are the electrical and telephone bills incurred by the acting city officials. – Rhodina Villanueva