The palace want to elbow out the lowly OFWs out of Philippine's economic scene

By Belarmino Dabalos Saguing

Rome, Friday 06.09.2013

OFW remittances will remain an important source of investments in the country. Zero dependence on our remittances is probably overambitious. In reality, overseas remittances are a significant part of any country’s economy, whether developed, developing or at any stage of economic development.

The country cannot do without OFW remittances due to its important role of promoting inclusive growth or economic growth that trickles down to the masses, unlike the economic growth being boasted by Mr. Anoy Aquino which remain only in the pocket of the few rich and never reach the masses. 

OFW remittances are significant source of human capital development since remittances gows straight to households. These remittance inflows are used to address various household needs such as food, shelter, and education. OFW remittances are also used as investments in entrepreneurial pursuits and technology transfers. In a consumer oriented economy such as the Philippines, the remittances are also propelling the consumer trade in the Philippines because OFW families are receiving money for it. In the first half of this year alone, Philippines earned PhP 4.5B a day from our backbreaking labor and heartbreaking conditions abroad.

The inflow of remittances is about 30% the earnings of our exports sector. It is even higher than the foreign direct investments that we are getting.  Our country’s international reserves have been at comfortable levels because of remittances.

Aside from remittances, the Philipine government also earn from departing OFWs in documentation and pre-departure fees totaling PhP90M per day, broken down as follows:

    76 signatures at PhP100 per signature……………………….  PhP7,600

    Passport fee ……………………………………………………...........         1,200 minimum

    POEA fee for new hires  …………………………………….........          7,500

    OWWA fee of US$25 …………………………………………….....         1,125

    Pagibig ……………………………………………………………..........            600

    Philhealth …………………………………………………………........           900

TOTAL (average) .………………………………………………...........  PhP20,000

From 2012 figures, there is an average of 4,500 OFWs leaving daily

                                                               PhP20,000 x 4,500 = PhP 90M per day

In annual basis the total earning of the government from departingOFWs amounts to PhP324B per year

I think these figures will be enough to open the eyes ‘Honorable’ Lacierda and that 'gentleman he is serving. The state exactions from the pre-departure fees alone will be enough to make the mouths of the pigs water. So please stop belittling us, Mr. Lacierda and Mr. Abnoy Aquino. 

We create wealth for the nation. Wealth that the government you are serving is squandering thru  your beloved PDAF.

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