Bais City Mayor Hector Villanueva has refunded the business permits paid by two banks operating in the city because they incurred losses last year.

Villanueva said he returned the business permit payments of P1,563 of the Philippine National Bank Bais City branch from his personal pocket, as well as the P9,093 paid by the Rural Bank of Bais.

Villanueva said he was doing this to help establishments which he believes are losing.

The mayor said he does not think what he's doing is an insult to the banks, and is merely doing it for goodwill, while protecting depositors of Bais City.

The local government of Bais City has a deposit of almost P100 million in a local bank, Villanueva said.
But he was quoted as saying that small tiendas in Bais paid as much as P9,000 in business permits.
Asked if this will create a precedence, Villanueva said he will act as the situation warrants.*JG

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