House panel tackle bills to protect, improve OFWs’ remittances

FILE: Overseas Filipino workers (OFWs) heading to their hometowns after completing mandatory quarantine queue at the departure area of Ninoy Aquino International Airport Terminal 2 during a send-off on Tuesday (May 26, 2020) (PNA photo by Avito C. Dalan)

MANILA – The House Committee on Overseas Workers Affairs gained good momentum in the initial deliberations on Thursday of House Bills 185, 1190, 2944, 3020, 4170, 4257, 4343, 4397 and 4469 — all seeking to protect the remittances of overseas Filipino workers (OFWs).

Kabayan party-list Representative Ron Salo noted that these measures seek a 50-percent discount on remittance fees, which would eventually be granted as tax deductions for the service providers.

Tarlac 2nd District Rep. Christian Tell Yap, author of HB 1190, raised that there are OFWs not informed by service providers about certain money-transfer fees and charges when sending money to their families.

Yap said his proposal would require intermediary financial institutions to actively disclose their service fees, thereby ensuring compliance with proper and just practices under the law.

Citing the OFWs’ high contribution to the Philippine economy through remittances, Yap said the bill could help protect the financial welfare of OFWs, as well as sustain the country’s economic growth.

For his part, Rep. Antonio Legarda Jr. of the lone district of Antique, author of HB 3020, said the bill would prohibit any fees imposed without prior consultation with the Department of Finance and the Bangko Sentral ng Pilipinas.

The committee approved the consolidation of the nine bills, as well as the consideration of position papers to be submitted by concerned agencies and organizations in crafting the substitute bill.

Meanwhile, lawmakers also tackled HBs 365, 1188, and 3378, establishing a credit assistance program for OFWs.

In her sponsorship speech for HB 3378, Cavite 2nd District Rep. Lani Mercado-Revilla noted that the measure would allow prospective OFWs with a valid contract certified by the Philippine Overseas Employment Administration to apply for a loan of up to PHP50,000 from the Overseas Workers Welfare Administration.

This, she said, is to cover the living expenses of their families at the start of employment, and other expenses incurred during pre-employment.

The panel likewise approved the consolidation of these measures.