By Rogelio Lazaro, Jr.
MASBATE CITY --- The city government here has launched its tricycle sidecar loan program for the city’s tricycle drivers.
Fifty units of newly-crafted tricycle sidecars were distributed by City Mayor Rowena Tuason and members of the city council.
Each sidecar cost P20,000, which the recipient tricycle driver will pay back at P50 a day in two years without interest.
According to a contract signed between the city government and the recipient drivers, the sidecar units may not be sold nor its registered name of owner be transferred to another.
The city mayor advised the recipient drivers to pay their daily amortization on time.
All the recipients are members of the Masbate City Tricycles Operators and Drivers Credit Cooperative and their loans accordingly endorsed by the City Cooperative Office.