News Release
by Migrante Saudi Arabia
Reference:
A.M. Ociones
Coordinator, Migrante Saudi Arabia
Balance the strong peso, scrap oil deregulation law
DOF plan too late, not enough - Migrante Saudi Arabia
"Even as we welcome recent moves by the Department of Finance to balance the strong peso by adjusting the denomination of foreign loans, we believe it still wouldn't be enough as long as prices of basic commodities continue to rise fueled by the oil deregulation law."
Thus declared A. M. Ociones, Migrante Coordinator in Saudi Arabia after DOF Secretary Margarito Teves announced on Wednesday its plan to stem the strength of peso by increasing the share of peso-denominated foreign borrowings next year to 70% from 64 percent and by issuing additional P20 million government securities.
Teves also announced plans to pay dollar loans in advance to generate savings and to reduce remmittance charges.
Not Enough
"Any rate lower than the present would be a death sentence to overseas Filipinos and their families (OFFs)," Ociones asserts further. "Thus we welcome any moves to stabilize the peso to its current exchange rate."
The plan, however, would not be enough to cover the 20-30% of income already lost to the overseas Filipinos since last year.
Furthermore, according to Ociones, any gains for stabilizing the peso rate would be lost to continued increase in oil prices and its consequent impact on basic commodities, goods even services.
"Therefore, stabilizing the peso should be coupled with the scrapping of the oil deregulation law to have an impact to the livelihood of OFFs," Ociones claims.
Too Late
"Magagawa naman pala ito ng gobyerno, bakit ngayon lang? (The government can do it apparently, then why take action only now?)," Ociones asserts expressing the frustration of many OFs. "Why have they waited for overseas Filipinos to suffer first?"
Data from Migrante Saudi Arabia shows that in December 2006, one Saudi Riyal costs PhP14-15, but in December 2007, actual remmitance exchange rates is P10.80 per Saudi Riyal. This meant Filipinos in Saudi Arabia already lost as much as 30% of their income.
"This, unfortunately, is the mantra of the current government- to let people suffer long in agony before taking any action," Ociones laments further. "They have done it with Marilou, they have done it with the entire overseas Filipinos."
It should be recalled that Marilou Ranario, the domestic helper sentenced to death for killing her abusive employer in Kuwait waited for more than three months in jail before a lawyer was provided by the Philippine government.
Showing posts with label Strong Peso. Show all posts
Showing posts with label Strong Peso. Show all posts
Sunday, December 16, 2007
Thursday, December 13, 2007
Pushing for Luck vs Migrants' Triple Whammy
Notes by A.M. Ociones
Coordinator, Migrante-Saudi Arabia
First, the meager of income of overseas Filipinos (OFs) especially in Saudi Arabia was cut by as much as 25-30% because of the strong peso, now running close to P40 against the dollar.
Data from Migrante Saudi Arabia shows that in December 2006, one Saudi Riyal costs PhP14-15, but in December 2007, actual remittance exchange rate is P10.80 per Saudi Riyal, meaning Filipinos in Saudi Arabia lost as much as 30% of our income.
Then, despite enchanting inflation statistics by the government and the strong peso (it takes fewer peso to purchase crude oil), the oil prices continue to surge and dragging with it, the prices of basic commodities.
And even as we toil under extreme woking conditions, salaries abroad remain fixed as stated in the contracts we have shackled (signed, may be an understatement) into. In fact, first timers now get lower rates compared to first-timers five years ago.
Overseas Filipinos therefore, confront static wages, yet actual income gets slashed by the strong peso and the families' budget gets saddled by unforgiving rise in prices of commodities, goods and services.
This is the triple whammy of overseas Filipinos and their families (OFFs).
Thus, we welcome with wide open arms, the recent government plan to balance the strong peso by adjusting the denomination of incoming foreign loans next year, as announced by Department of Finance Secretary Margarito Teves.
According to Teves, the government would increase to 70% the share of foreign borrowings in peso currency by issuing additional P20 billion peso-denominated government securities.
The plan (which we heard first not from Teves but from Senator Mar Roxas) they hope, as we hope, would stabilize the peso at its current exchange rate.
Frankly, any rate below the present rate of P40 would be a "death sentence" worse than Ranario's because it would mean death to whole already-suffering families.
But wait, Teves said the DoF would seek the approval of inter-agency Development Budget Coordinating Council first to implement the plan.
So knowing this government's penchant for enchanting, PR slogans - like the government's frequent mouthing of a "strong peso, strong economy" while most kababayans, including OFFs, reels in poverty - nothing is really certain.
And that is why, I said, OFs are pushing for luck.
Because in the end, it may all that we could hope for from such a government as Gloria's.
Coordinator, Migrante-Saudi Arabia
First, the meager of income of overseas Filipinos (OFs) especially in Saudi Arabia was cut by as much as 25-30% because of the strong peso, now running close to P40 against the dollar.
Data from Migrante Saudi Arabia shows that in December 2006, one Saudi Riyal costs PhP14-15, but in December 2007, actual remittance exchange rate is P10.80 per Saudi Riyal, meaning Filipinos in Saudi Arabia lost as much as 30% of our income.
Then, despite enchanting inflation statistics by the government and the strong peso (it takes fewer peso to purchase crude oil), the oil prices continue to surge and dragging with it, the prices of basic commodities.
And even as we toil under extreme woking conditions, salaries abroad remain fixed as stated in the contracts we have shackled (signed, may be an understatement) into. In fact, first timers now get lower rates compared to first-timers five years ago.
Overseas Filipinos therefore, confront static wages, yet actual income gets slashed by the strong peso and the families' budget gets saddled by unforgiving rise in prices of commodities, goods and services.
This is the triple whammy of overseas Filipinos and their families (OFFs).
Thus, we welcome with wide open arms, the recent government plan to balance the strong peso by adjusting the denomination of incoming foreign loans next year, as announced by Department of Finance Secretary Margarito Teves.
According to Teves, the government would increase to 70% the share of foreign borrowings in peso currency by issuing additional P20 billion peso-denominated government securities.
The plan (which we heard first not from Teves but from Senator Mar Roxas) they hope, as we hope, would stabilize the peso at its current exchange rate.
Frankly, any rate below the present rate of P40 would be a "death sentence" worse than Ranario's because it would mean death to whole already-suffering families.
But wait, Teves said the DoF would seek the approval of inter-agency Development Budget Coordinating Council first to implement the plan.
So knowing this government's penchant for enchanting, PR slogans - like the government's frequent mouthing of a "strong peso, strong economy" while most kababayans, including OFFs, reels in poverty - nothing is really certain.
And that is why, I said, OFs are pushing for luck.
Because in the end, it may all that we could hope for from such a government as Gloria's.
Monday, December 10, 2007
Migrante slams Gloria's inaction over effects of rising peso
News Release by Migrante International
07 December 2007
Reference:
Connie Bragas-Regalado, Chairperson
Tel. No.: 0927-215-7392
An alliance of organizations composed of overseas Filipinos and their families today slammed Gloria's inaction over the devastating effect of the rising peso on their sector. At the same time, Migrante International explained that lower prices for basic goods and services can help alleviate the plight of their sector.
“It's the height of inutility for her to stand idly by while OFWs and their families are in a state of calamity from the blows of the rising peso to their stomachs. This is like an intensifying wage cut for OFWs because the value of their remittances keeps dwindling,” says Connie Bragas-Regalado, Migrante International Chairperson.
“It's also a big lie for Gloria to proclaim that the 'strong peso' means a 'strong economy'. If that were the case, why aren't the prices of food and other items going down? The real problem here is the fact that while their earnings are dwindling, the prices of goods and services keep increasing,” she added.
"The price of oil increases almost weekly and as we approach Christmas, everything else also keeps getting more expensive. For starters, the Arroyo administration can scrap the oil deregulation law to stem the succesive oil price hikes,” says Bragas-Regalado.
Migrante estimates OFWs are losing about 20% of their earnings monthly. As such, an OFW's US$200 monthly remittance went down from about P10,000 to P8,000.
“The P2000 difference is equivalent to one cavan of rice or maybe even the utility bill for an entire month,” noted Bragas-Regalado.
The Migrante leader added that to compensate for their diminishing remittances, OFWs are forced to take loans at high interest rates, work overtime or find second jobs to ensure they are sending home the same amount of pesos.
07 December 2007
Reference:
Connie Bragas-Regalado, Chairperson
Tel. No.: 0927-215-7392
An alliance of organizations composed of overseas Filipinos and their families today slammed Gloria's inaction over the devastating effect of the rising peso on their sector. At the same time, Migrante International explained that lower prices for basic goods and services can help alleviate the plight of their sector.
“It's the height of inutility for her to stand idly by while OFWs and their families are in a state of calamity from the blows of the rising peso to their stomachs. This is like an intensifying wage cut for OFWs because the value of their remittances keeps dwindling,” says Connie Bragas-Regalado, Migrante International Chairperson.
“It's also a big lie for Gloria to proclaim that the 'strong peso' means a 'strong economy'. If that were the case, why aren't the prices of food and other items going down? The real problem here is the fact that while their earnings are dwindling, the prices of goods and services keep increasing,” she added.
"The price of oil increases almost weekly and as we approach Christmas, everything else also keeps getting more expensive. For starters, the Arroyo administration can scrap the oil deregulation law to stem the succesive oil price hikes,” says Bragas-Regalado.
Migrante estimates OFWs are losing about 20% of their earnings monthly. As such, an OFW's US$200 monthly remittance went down from about P10,000 to P8,000.
“The P2000 difference is equivalent to one cavan of rice or maybe even the utility bill for an entire month,” noted Bragas-Regalado.
The Migrante leader added that to compensate for their diminishing remittances, OFWs are forced to take loans at high interest rates, work overtime or find second jobs to ensure they are sending home the same amount of pesos.
Saturday, December 1, 2007
No Remit Days
Ang sumusunod ay pahayag ng Migrants Association in Saudi Arabia (MASA), isa sa mga kasaping organisasyon ng Migrante Saudi Arabia.
Ipaglaban ang Kabuhayan ng Migranteng Pilipino!
No Remit sa a-1 hanggang a-5 ng bawat buwan!
Laging sinasabi ng gobyerno na gumaganda ang ekonomiya ng Pilipinas. Patunay daw nito ang pagtaas ng reserbang dolyar ng bansa, pagliit ng depisit sa kalakalan (trade) at badyet; pagbalik ng tiwala ng mga investor sa ekonomiya at higit sa lahat, ang patuloy na pagtaas ng halaga ng piso kontra dolyar.
Noong 2006, ang palitan ng dolyar sa piso ay naglalaro sa P56 hanggang P48. Ngayong 2007, tumaas pa ito hanggang umabot sa kasalukuyang palitan na P44.00 (28 Okt 2007). Sa tantya mismo ng gobyerno, aabot pa daw ito ng P40 hanggang mag-Disyembre.
Mismong si GMA din ang laging nagsasabi na ang pagganda ng ekonomya ay dahil sa remittance ng mga OFW na umabot na ng $12.8 bilyong dolyar noong 2006 at $9.3B na ngayong Agosto pa lamang, ang pinakamataas sa kasaysayan.
Tulad ng dati, ang mga OFW na naman ang bayani. Pero bakit nalulubog at nahihirapan ngayon ang mga OFW?
Krisis ng Overseas Filipino Workers (OFW)
Sa Saudi, ang palit ng 1000 riyal ay P15,000 noong 2006 pero ngayon ay P11,784 na lang (1SAR=PhP11.7841). Ibig sabihin 8% hanggang 21% agad ang nawala sa kita dahil hindi naman nadadagdagan ang sahod ng bawat Pinoy sa Saudi Arabia.
Idagdag pa dito ang tuluy-tuloy na pagtaas ng presyo ng mga bilihin, sunod-sunod na pagtaas ng produktong petrolyo, pagtaas ng matrikula, pamasahe at serbisyong pangkalusugan, maging bayarin sa koryente-tubig.
Ayon sa Ibon Foundation, P560 bawat araw (o P680 kung nasa Metro Manila) ang kailangan ng isang pamilya na may 6 katao noong Abril 2007. Ibig sabihin, ang bawat isang OFW ay kailangang magpadala ng P20,400 bawat buwan (o $443) para mabuhay ng sapat ang kanyang pamilya (kumpara sa P18,494 nong 2005, at P19,969.00 noong 2006).
Ngunit ang karaniwang kita ng skilled worker sa Saudi Arabia ay $400 lang kada buwan at $260 naman sa service sector. Sa pagliit ng halaga ng dolyar kontra piso, kailangang magdagdag ng ipapadala ang OFW para makuha ang dating badyet ng kaniyang pamilya.
Pero ang sahod ng OFW sa Saudi ay hindi naman nadadagdagan at tumataas din ang bilihin, dito kaya paano pa nga ba magkakasya ang kita ng OFW?
Remittance: Pang-salba o Pang-lunod
Dahil laging sinasabi na ang remittance ang dahilan ng paglobo ng halaga ng piso kontra dolyar, maaaring mapigilan ito kapag nabawasan ang kabuuang padala sa Pilipinas. Magagawa ito sa pamamagitan ng pagtatakda ng ilang araw na hindi magpapadala (No Remit Days), at pag-iwas sa mga bangko at remmitance center.
Gayunman, upang magtagumpay ang ganitong klaseng kampanya, kinakailangan ang mahigpit na koordinasyon at pinakamalawak na partisipasyon ng pinakamaraming OFW.
Kinakailangan din na gawin ito nang sustinido (ibig sabihin, gawin ng regular sa mga susunod na ilang buwan) upang ganap na maramdaman ang epekto sa palitan ng piso kontra dolyar.
Hinihingi din ng sitwasyon ang sakripisyo sa mga kapamilya kaya't mahalaga na maunawaan ng pamilya ng bawat OFW kung bakit made-delay ang pagpapadala.
Migrante, Magkaisa!
Ipaglaban ang Kabuhayan, Kagalingan at Karapatan ng OFW!
No Remit sa a-1 hanggang a-5 ng bawat buwan.
Migrants Association in Saudi Arabia (MASA)
Oktubre 2007
Para sa mga katanungan, mungkahi o reaksyon, mag-email sa ksa.masa@yahoo.com
Ipaglaban ang Kabuhayan ng Migranteng Pilipino!
No Remit sa a-1 hanggang a-5 ng bawat buwan!
Laging sinasabi ng gobyerno na gumaganda ang ekonomiya ng Pilipinas. Patunay daw nito ang pagtaas ng reserbang dolyar ng bansa, pagliit ng depisit sa kalakalan (trade) at badyet; pagbalik ng tiwala ng mga investor sa ekonomiya at higit sa lahat, ang patuloy na pagtaas ng halaga ng piso kontra dolyar. Noong 2006, ang palitan ng dolyar sa piso ay naglalaro sa P56 hanggang P48. Ngayong 2007, tumaas pa ito hanggang umabot sa kasalukuyang palitan na P44.00 (28 Okt 2007). Sa tantya mismo ng gobyerno, aabot pa daw ito ng P40 hanggang mag-Disyembre.
Mismong si GMA din ang laging nagsasabi na ang pagganda ng ekonomya ay dahil sa remittance ng mga OFW na umabot na ng $12.8 bilyong dolyar noong 2006 at $9.3B na ngayong Agosto pa lamang, ang pinakamataas sa kasaysayan.
Tulad ng dati, ang mga OFW na naman ang bayani. Pero bakit nalulubog at nahihirapan ngayon ang mga OFW?
Krisis ng Overseas Filipino Workers (OFW)
Sa Saudi, ang palit ng 1000 riyal ay P15,000 noong 2006 pero ngayon ay P11,784 na lang (1SAR=PhP11.7841). Ibig sabihin 8% hanggang 21% agad ang nawala sa kita dahil hindi naman nadadagdagan ang sahod ng bawat Pinoy sa Saudi Arabia.
Idagdag pa dito ang tuluy-tuloy na pagtaas ng presyo ng mga bilihin, sunod-sunod na pagtaas ng produktong petrolyo, pagtaas ng matrikula, pamasahe at serbisyong pangkalusugan, maging bayarin sa koryente-tubig.
Ayon sa Ibon Foundation, P560 bawat araw (o P680 kung nasa Metro Manila) ang kailangan ng isang pamilya na may 6 katao noong Abril 2007. Ibig sabihin, ang bawat isang OFW ay kailangang magpadala ng P20,400 bawat buwan (o $443) para mabuhay ng sapat ang kanyang pamilya (kumpara sa P18,494 nong 2005, at P19,969.00 noong 2006).
Ngunit ang karaniwang kita ng skilled worker sa Saudi Arabia ay $400 lang kada buwan at $260 naman sa service sector. Sa pagliit ng halaga ng dolyar kontra piso, kailangang magdagdag ng ipapadala ang OFW para makuha ang dating badyet ng kaniyang pamilya.
Pero ang sahod ng OFW sa Saudi ay hindi naman nadadagdagan at tumataas din ang bilihin, dito kaya paano pa nga ba magkakasya ang kita ng OFW?
Remittance: Pang-salba o Pang-lunod
Dahil laging sinasabi na ang remittance ang dahilan ng paglobo ng halaga ng piso kontra dolyar, maaaring mapigilan ito kapag nabawasan ang kabuuang padala sa Pilipinas. Magagawa ito sa pamamagitan ng pagtatakda ng ilang araw na hindi magpapadala (No Remit Days), at pag-iwas sa mga bangko at remmitance center.
Gayunman, upang magtagumpay ang ganitong klaseng kampanya, kinakailangan ang mahigpit na koordinasyon at pinakamalawak na partisipasyon ng pinakamaraming OFW.
Kinakailangan din na gawin ito nang sustinido (ibig sabihin, gawin ng regular sa mga susunod na ilang buwan) upang ganap na maramdaman ang epekto sa palitan ng piso kontra dolyar.
Hinihingi din ng sitwasyon ang sakripisyo sa mga kapamilya kaya't mahalaga na maunawaan ng pamilya ng bawat OFW kung bakit made-delay ang pagpapadala.
Migrante, Magkaisa!
Ipaglaban ang Kabuhayan, Kagalingan at Karapatan ng OFW!
No Remit sa a-1 hanggang a-5 ng bawat buwan.
Oktubre 2007
Para sa mga katanungan, mungkahi o reaksyon, mag-email sa ksa.masa@yahoo.com
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