What is your opinion on the spreading OFW Remittance Rule?

Question

Please see the following articles:

http://www.abs-cbnnews.com/storypage.aspx?StoryID=86801
http://www.abs-cbnnews.com/topofthehour.aspx?StoryId=80631

Apparently, this is an effort to help the OFWs families cope with the higher prices and less income because of the superficial rise of the peso. An email I received added this paragraph as kind of an afterthought:

"This is our (OFW) united effort in terms of monetary value. Which the government "seems" to neglect for the very reason that we are not united... and they can step on our nose.. but for as long as we can endure the pain... we should not resort to this option. Unless otherwise kailangan mo nang ibagsak ang huling baraha.."

What do you think? Will this be detrimental to us?

And OFWs out there... will you support this cause?

Thank you. ^_^

Answer 1

1) The Republic of the Philippines cannot enforce forcing millions of OFWs to course remittances to its preferred agency which is allegedly Phil. Postal Bank, or any other prefered channel. It simply does not have have sufficient muscle to do that. OFWs like me will first have to become aware of how much benefit will it accrue to me and my folks back home. If for example, its only a reduction of SR20 to the average charge of SR35 via Western Union, why should I
resort to the bureaucratic method that might take forever to reach my family? The service and the material benefit should be tangible enough for me to be enticed to follow such plan - which is doubtful, at its best.
2) As for Mr. Francis Oca's countermeasure - I can say the same. We OFWs can only be with him in spirit, not in deed.
We cannot prefer the cause of 8 million OFWs up in arms, over the wail of a single baby in the family crying for milk.

Answer 2

Firstly, to use the US $ as a yard stick wether the Philippine economy is improving or not is not sufficient.
How about comparing the Peso with the other currencies, say Canadian $. Peso has not improve significantly when compared to Canadian $. The truth is Peso is not improving, the US $ is getting weak.

OFW's paid in US $ are the ones mostly affected by this, They have to remit more to maintain the Peso equivalent of what they use to send to their families.

Those whose contract are paid in other currencies like Canadian$ life is still the same.

Personally, I am not pro-GMA, but I dont see anything wrong about the governement's proposal. Getting a good US$-Peso rate in exchange of sending my remittances through the government bank is fair enough for me. My family will benefit and so as the Philippine economy. I am sure it is not the governments idea to monopolize the remittance business . And I am fairly sure that those who frown upon this government proposal are those people on the remittance business.

Mr.Oca's rally to OFW's to cut by half our remittances, just to show our muscle to the Philippine government, will do more harm to no less than our family in the Philippines.

It is your choice. But as for me, the welfare of my family comes first, for they are the very reason I left the comfort of our home to seek a greener pasture.

Answer 3

Im not OFW but I do remit a lot of money to philippines. Lots of family and relatheives. I would not use a government bank for remittance it seems its much more likely for corruption that way.

Answer 4

That is a good idea. GMA is not doing anything, all the goods prices are still up and continue doing so.

I would support it. that is three months, my family can handle living off half of what they are used to, it's for the greater good anyway.

Answer 5

sorry but i'm not an ofw. i go abroad not for pasture but pleasure to see other places. i always go back to mindanao, my home, the place where only the brave dare to live.

Answer 6

Weh, atehz! That is so deep. I'm planning to go abroad so I guess I cannot comment on this one until I feel the impact.

Answer 7

i think it might be harmful to our economy.