Trade committee tackles Palengke-QR Ph program

The City Council committee on trade and commerce chaired by Councilor George S. Goking yesterday presented to the business sector and market vendors the Palengke-QR Ph program jointly developed by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG).

The program aims to build digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation.

The PalengkeQR Ph will also protect the interest of the consumers pursuant to the Consumer Protection Act.

Raymundo G. Talimio Jr., president of Cagayan de Oro Chamber of Commerce, said the project is good but there are a lot of things to consider in the implementation of the program like the financial literacy and internet provider accuracy.

He proposed to seek the opinion of the Philippine Institute of Certified Public Accountants (PICPA) and other organizations.

For his part, Franklin Dagcuta, president of CdeO-Cogon United Market Vendors Association (CUMVA), said the program is benficial as it will solve the circulation of fake bills and even checks employee’s honesty. He, however, opines the need for massive education and information drive and internet connection efficiency.

Councilor Aga G. Suan suggested improving first the infrastructure of the internet connection.

Olegario Magahin of BSP said all the suggestions and recommendations will be noted before the implementation and that they will be coordinating with the Department of Information and Communications Technology (DICT).

Councilor Goking suggested the BSP to coordinate with DICT for proper implementation of the program.