“Singson’s view is that the Chavit 500 initiative would leverage modern technology to ensure transparency and efficiency.

Had his health not interfered, Manong Chavit Singson should have been one serious Senate contender with a clear perspective of what he wanted to achieve.
The veteran politician’s three worthy programs — setting up the digital VBank, the push for electric vehicles, and “Chavit 500” which would institutionalize monthly financial assistance of P500 to low-income Filipinos — are all targeted to uplift the poor.
Singson announced his withdrawal from the senatorial race due to health concerns but he said the programs he started will continue.
“After much contemplation, I’ve decided I will no longer continue with my candidacy for the Senate,” he said.
He assessed the rigors of the coming campaign and the state of his health and decided that regaining his strength was paramount to allow him to vigorously pursue projects as a crusading private individual.
“I want to serve with all my heart and strength, so I’ve decided to focus on regaining my health to be even more useful to all of you,” Chavit said during the VBank VLive nationwide caravan on Sunday at the Mall of Asia where he announced his decision to bow out.
“I don’t have to win because I am already a winner in connecting with Filipinos from all over the country,” Singson said.
VBank is Singson’s vehicle for financial literacy and inclusion which will be instrumental in providing financing for his other campaign of making electric vehicles for the Public Utility Vehicle Modernization Program (PUVMP) accessible to the masses.
Singson wants to improve the PUVMP financial model to help drivers, particularly those without access to loans or financial literacy, become operators.
“Many drivers cannot afford the loans or have limited access to banking services. That’s when I decided I would personally fund the transition,” Singson said.
The financial scheme for Singson’s e-jeepneys will make them three times cheaper than those available in the market and these will be offered with no down payment and no interest. “I don’t mind losing money over this,” he said.
For the extremely marginalized, Singson is offering “Chavit 500,” a universal basic income program that would provide monthly financial assistance of P500 to low-income Filipinos.
Chavit 500 seeks to ensure Filipinos will receive tangible support to improve their quality of life. The financial support will also be provided through VBank.
Singson’s view is that the Chavit 500 initiative would leverage modern technology to ensure transparency and efficiency.
Beneficiaries would receive their monthly assistance directly through the bank he formed. The scheme would avoid the usual pitfall of corruption by eliminating middlemen in the disbursement process.
Thus, the initiative will also double as the anti-graft program of Singson as the aid will go directly to the poor.
His advocacies continued in 2016 when he poured his money into securing for the country the hosting of the Miss Universe pageant where some reports stated that he spent $12 million.
The Miss Universe Organization asked for a downpayment for expenses, which Singson complied with.
Many asked him what he gained from spending so much to get the country to host the prestigious event.
Singson said the effort was not for his gain but for the country’s, the profile of which was elevated several notches as a result of the event.
Such a selfless leader would have brought a refreshing change to the Senate, which has recently faced allegations of being a den of thieves.