- Davao City mayor says he will ban the infamous 5-6 scheme of Indian money lenders
- He says it is the poor who are suffering most from the usurious practice
- Indians who refuse to abide will be deported or “buried alive”
MANILA, Philippines – No more “5-6” when he’s number one.
Revealing his disgust for the usurious practice of Indian money lenders wherein they loan out money with ridiculously high rates of interest, Davao City Mayor Rodrigo Duterte vowed to put a stop to it once he becomes president because of the suffering it inflicts on the poor who are usually the clients of the lenders.
“Nagapahiram sila ng five-six, which is really exorbitant, mind you, ang mga gago pala, pag naghiram ka ng five-six mag kuha ka pa sa kanila ng appliance [They let you borrow through five-six, mind you, then those idiots would also require you to buy an appliance from them],” the Sun Star quoted him as saying.
According to Duterte, he will impress on the Indian ambassador to tell his countrymen on his plans and to comply if they want to continue doing business in the country.
“Ipapatawag natin sa kanila. We welcome them to do business here in the country, but what I really hate is how they do it. I would like to talk to the Indian ambassador, that they are out there, and we do not ask for any license, we do not ask anything and we do not disturb them,” he said.
For those Indians who would persist in the practice, the mayor warned of two possible repercussions for them.
“Tell the Indians that if they continue doing such, they’ll run the risk of being reported. They must stop it or I will bury them alive,” he said.
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