PNP grants 30-day loan payment moratorium for personnel

The Philippine National Police (PNP) leadership has granted its personnel a 30-day moratorium on salary deductions for existing loans from six accredited financial institutions to help them cope with the economic impact of the COVID-19 pandemic.

PNP chief Gen. Archie Francisco Gamboa initiated the directive, tasking the Directorate for Comptrollership to coordinate with these institutions to provide the reprieve.

This measure aims to increase the take-home pay of PNP personnel, offering financial relief to their families during the Enhanced Community Quarantine.

The 30-day moratorium will be implemented in the April 2020 payroll, affecting approximately 205,000 active-duty PNP personnel.

The affected financial institutions include AFPSLAI, PSSLAI, AMWSLAI, PNP Provident Fund, PSMBFI, and AFPMBAI.

As per Republic Act 11469 or the Bayanihan to Heal as One Act, these institutions are implementing the suspension of monthly loan payments without penalty.

Loan payment terms will be extended by one month, with amortization payments set to resume in May 2020.