NextGen Day

The final reading approval of a bill allowing married women to keep their maiden surnames was deemed a “relevant and timely” action by Speaker Ferdinand Martin Romualdez on Tuesday to demonstrate the House of Representatives’ dedication to advancing the equality of men and women before the law.

Our jurisprudence’s statement that a married woman has the choice but not the need to use her husband’s last name is insufficient. We must institutionalize the option for them to keep both their maiden and last names, according to Romualdez.

House Bill 4605, which aims to change a section of the nation’s New Civil Code, which has been in effect for 72 years, was adopted by the chamber on the third reading with a resounding 277 votes. (NCC).

The legislation aims to safeguard married women’s ability to continue using their maiden surnames even after marriage and give them options for their choice of last name.

A married woman has three options under the current version of Article 370 of Title XIII, Book III of the Republic Act No. 386, as amended: use her maiden first name and surname and add her husband’s surname; use her maiden first name and husband’s surname; or use her husband’s full name then prefix a word indicating that she is his wife, such as “Mrs.”.

In other words, a married lady may choose not to introduce any alteration to her name. This fourth option is introduced by the proposed Article 370 under HB 4605.

Representative Edward Vera Maceda of Manila, Representative Arlene Brosas of Gabriela, Representative Ysabel Zamora of San Juan City, Representative Juliet Ferrer of Negros Occidental, Representative Maria Fe Abunda of Eastern Samar, Representative Aurelio Gonzales of Pampanga, Representative Mannix Dalipe of Zamboanga City, and Representative Jocelyn Tulfo of ACT-CIS are the primary co-authors of the bill.

Loan bill without collateral

A bill to provide a sustainable and collateral-free lending program for the nation’s micro and small businesses was also adopted by the House on its third and final reading. (MSEs).

The “Pondo sa Pagbabago at Pag-Asenso Act,” which intends to provide an affordable, accessible, and simple financing program for MSEs, especially those in the poorest populations and underserved areas, was overwhelmingly adopted by MPs by a vote of 278 to 0 with no abstentions.

Our struggling MSEs, which sometimes turn to dishonest loan sharks who demanded exorbitant interest rates for loans because of the epidemic, would benefit immensely from this action, we believe, Romualdez remarked.

“Since MSEs employ millions of Filipinos, they must expand to take on more employees. By removing two of their concerns—high-interest rates on MSE loans and putting up collateral for financing—this initiative aims to boost the entrepreneurial spirit of the Filipino, he continued.

HB 7363 also aims to lower the interest rate at which financial services are made available to MSEs, offer a better substitute for informal lenders or the so-called “5-6” money lending system used by micro-enterprises, and encourage the growth of entrepreneurship, particularly in the MSE sector.

According to the law, the Pondo sa Pagbabago at Pag-asenso (P3) Fund must be established and “loaned out to qualified MSEs under such terms and conditions that will meet the purposes of this Act.”

The Small Business Corporation (SB Corp.) and accredited partner financial institutions (PFIs), such as rural banks, thrift banks, development banks, cooperative banks, cooperatives, non-stock savings and loan associations, microfinance non-governmental organizations, or lending companies, will be the channels through which the P3 Fund can be accessed.

The law states that “The SB Corp., the Department of Trade and Industry’s (DTI) financing arm, shall be the lead implementing agency for the P3 Fund.”

According to the proposed legislation, the SB Corp. will manage the supply of funds to MSEs via the following channels: direct lending for 40% of the P3 Fund; and lending through accredited PFIs for 60% of the P3 Fund.

Subject to evaluation and approval by the Micro, Small, and Medium Enterprise Development (MSMED) Council, it continued, “The SB Corp. shall prioritize lending to underserved and unserved areas and MSE segments of the country.

Low-interest rates and no need for security for MSE loans are two of the P3 Fund’s key benefits.

The law stated that the effective interest rate on loans obtained by P3 Fund beneficiaries “must not exceed one percent per month for direct lending, and shall not exceed two and a half percent per month for lending through approved PFIs. (

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