The Department of Trade and Industry (DTI) – Region 10 has issued a warning to the general public about an ongoing scam involving a group named “Hugpong Federal Movement of the Philippines” that supposedly collects fees to avail of the government’s loan under the Pondo sa Pagbabago at Pag-asenso (P3) program.
Accordingly, the said group claims that the P100 fee collected will be intended for the procurement of an identification card (ID) which will be then presented to any DTI office in the region as a means of claiming a P15,000.00 loan under the P3 program. Reports state the group has been collecting the said fees in several barangays and municipalities within Misamis Oriental. This scam is said to have reached areas as far as the CARAGA region.
DTI strongly warns the public of such motives. DTI’s attached agency and financing arm, Small Business Corporation (SB Corp), handles the P3 Program and doesn’t collect fees.
Jade Montero, SB Corp’s Officer in Region 10, denies the group’s claim. SBCorp’s only recognizes government-issued IDs as of proof of identification. He also encourages interested small enterprises who wish to avail loans under the P3 program to visit the nearest DTI office to inquire on the guidelines of loan program.
DTI Region 10 reiterates that the P3 program has not yet rolled out in the region. The province of Bukidnon is identified as the priority area. Unfortunately, Misamis Oriental is excluded in the initial implementation of the program.