SSS, GSIS URGED TO EXTEND LOANS FOR MEMBERS TO ACQUIRE E-VEHICLES

SENATOR Win Gatchalian urged the Social Security System (SSS) and the Government Service Insurance System (GSIS) to extend loans to enable their respective members to acquire electric vehicles (EVs) amid high fuel prices.

He said such a move would significantly expedite the country’s transition to EVs and subsequently reduce the country’s dependence on imported fuel. 

“Marami ang nagnanais na bumili ng EV, ngunit nahahadlangan ng mataas nitong presyo. Kung mayroong mga loan facility para sa pagbili ng EV, mas matutulungan ang ating mga kababayan na hirap na sa patuloy na pagtaas ng presyo ng gasolina at diesel” said Gatchalian. 

The senator has been pushing for an accelerated transition to EVs amid volatile global fuel prices, noting that savings on fuel can help cover monthly car loan amortizations. 

He said a more pervasive deployment of necessary infrastructure, such as charging stations, would encourage organizations and individual consumers to make the transition.

Also, the government should fast-track the transition of public utility vehicles (PUVs) to EVs through the PUV modernization program, he said. This would help insulate PUV drivers and operators from the fluctuations in fuel prices, he added.