• Page Views 1513
  • Senator Francis Escudero said the government stands to lose some P3.1 billion in one day if the campaign for “Zero Remittance Day” by overseas Filipino workers (OFWs) pushes through this weekend in connection with the “balikbayan” box controversy.

    According to the Bangko Sentral ng Pilipinas (BSP), personal remittances from OFWs in 2014 set an all-time high for the country at $26.93 billion, which accounted for 8.5 percent of the gross domestic product last year.

    During the first half of 2015, the BSP reported that personal remittances from OFWs grew by 6.2 percent to $12.7 billion from $11.9 billion in the same period last year. On the average, Filipino workers across the globe sent a combined remittance of P2.014 billion per month from January to June this year.

    Escudero said a one- day remittance boycott could translate to losses of over $67 million, or some P3.1 billion (at P46.61 exchange rate), for the Philippine economy— money which could have been spent for the basic necessities of relatives of OFWs here such as food, clothing, shelter and utilities.

    “The OFWs play a major part of the Philippine economy and its sustain- ability, so I don’t understand why the BOC (Bureau of Customs) targets the OFWs in its anti-smuggling campaign,” Escudero said. “This is not the way to treat our modern- day heroes. I say no to physical inspection of balikbayan boxes. The BOC should run after big-time smugglers.”

    “The proposed policy is anti-migrant and will only fuel serious backlash like a boycott on the remittances sent by OFWs,” he added.

    Escudero, who used to head the Senate Committee on Finance, said the BOC should put to good use its budget for surveillance and prevention of smuggling amounting to P540 million under the

    2015 General Appropriations Act, to enhance the agency’s intelligence gathering capabilities.

    “Nakakahiya naman sa mga OFW na nagpapadala ng bilyun-bilyong piso para sa ating ekonomiya kung hindi natin magagamit ang pondo na dapat sana ay pinambibili ng mga digital X- ray scanners, K-9 dogs, CCTV cameras. Isama na rin yung wastong training ng mga customs personnel para lumakas ang kanilang kakayahan,” the veteran lawmaker said.

    Escudero said President Aquino did the right thing when he stopped the BOC from implementing the regulation following complaints from netizens, and OFWs and their families here and abroad.
    “Sa tingin ko ginawa ng Pangulo kung ano ang nararapat at natutuwa naman po tayo at pinakinggan nya ang boses ng mga OFW at taumbayan,” Escudero said.

    Share

    Leave a Reply

    New Posts Recently publish post More

    • 20 February 2018
      7 hours ago No comment

      GMA Pinoy TV partners with Philippine Nurses Association of America’s Events

      GMA Network’s flagship international channel GMA Pinoy TV provided full support to the recent back-to-back events organized by the Philippine Nurses Association of America, Inc. (PNAA) for local and international nursing delegates. The events held in Manila last January 25 and 26 dubbed, “Filipino Nurses Global Summit II” and ...

    • 20 February 2018
      9 hours ago No comment

      Marian Rivera continues her journey as a Kapuso

      Primetime Queen Marian Rivera remains a loyal and full-fledged Kapuso as she renewed her exclusive contract with GMA Network, Inc. last February 5. Marian, who has been a Kapuso for more than a decade, said she feels happy and fulfilled with her renewal of contract with GMA 7, “Malaki ...

    • 20 February 2018
      11 hours ago No comment

      It’s nice to be the boss – Ryzza Mae Dizon

      RYZZA Mae Dizon continues to impress the viewing public with her wit, charm and humor as she takes on a new role in longest running noontime variety program “Eat, Bulaga!” (EB). Gone are the days when the former “Little Miss Philippines” winner was recognized by many through her moniker ...

    • 19 February 2018
      1 day ago No comment

      TRAIN lifts BIR tax collection by 15 percent

      The Bureau of Internal Revenue (BIR)  posted a 15 percent it growth in its tax collections in January, the first month of the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, according to Caesar Dulay, BIR commissioner. At this growth level, the collection in January likely ...

    • 19 February 2018
      1 day ago No comment

      Philippine peso weakest, hits P52.12:$1

      The Philippine peso fell to P52 against the dollar on Wednesday, weighed down by a widening trade deficit and concerns over US inflation that led to the currency’s weakest close in over 11 years. The local currency opened at P52.03:$1, traded at P51.90 to P52.12, and finally ended the ...

    %d bloggers like this: