Re: Fw: Campaign Signature Special Exchange Rate for OFW's!

[jayb00r]

Got this from one of the e-mail sent to me

OFW Task Force “Special Exchange Rate”

http://petition.patnubay.co m
http://www.patnubay.com/petition

[itchay]

Signed. There were some good points there. And there really is a need for a little overhauling. Sana ma-ratify. Sad but true, tsaka lang tayo umaaksyon pag tayo na naiipit. Buti na lang, well-rounded ang petition. May ceiling din na nilagay.

With so many factors to consider, i hope this will not end up as just wishful thinking.

[nasty]

oo nga kasi parang ang hirap mag sacrifice na malayo sa family mo to earn more dollars or any currencies tapos ang baba ng palitan ,,,,laging tumaas ang value ng piso ang press release ,,,hindi naman maramdaman ng filipinos,,,,,hindi birong magtrabaho sa abroad para mabigyan ng magandang kinabukasan ang family,,,pero pag ganyan kababa ang palitan,,,tatamarin na ang mga pinoy sa pag tatrabaho overseas:mad:

[jayb00r]

sort of talks and (a little) action

Palace to study 'special' forex rate for OFWs
08/08/2007 | 04:47 PM

Malacañang indicated an open mind on Wednesday about the petition of overseas Filipino workers (OFWs) to peg the peso at 10-percent premium above the market?s peso-dollar exchange rate, or at a flat rate of P50:$1 for ?legitimate" OFWs.

?We will ask our economic team to look into it," said Executive Secretary Eduardo Ermita in a news briefing at the Palace.

?Let us find out from the economic team, especially the BSP (Bangko Sentral ng Pilipinas) and the DoF (Department of Finance), but I have no specific reaction coming from our authorities as to how this will affect the economy because that?s one sector, the OFWs, are asking for," Ermita told newsmen.

?We don?t know how it would affect our fiscal program. Now, remember we are also looking at our overall program, among them being the balancing of our deficit and, to be able to do that, we should have good tax collections and we don?t know the effect of having such a proposal approved," said Ermita, a former military officer.

?All we know is that the improvement of the peso against the dollar is a positive improvement as far as our economic factors are concerned," he said.

Turning down the idea of a ?special" forex rate, BSP Governor Amado M. Tetangco Jr. earlier reiterated the government?s policy of allowing the market to determine the currency exchange rate.

While the BSP is not ready to interfere in the foreign currency exchange market, Tetangco said it has been doing its best to stave off the impact of a strong peso on OFWs.

?On the part of the BSP, we are helping to lower remittance fees, encourage (through our economic and financial literacy program) OFWs to save and invest so they can earn from this," Tetangco explained.

A strong peso helps to moderate inflation which benefits everyone, including families of OFWs benefiting from the foreign currency remittances from abroad, the BSP chief said.

Jeddah-based OFWs calling themselves as V-Team ?Advocacy and Community Service, initiated an online petition this week asking the Philippine government to peg the peso at 10-percent premium above the market?s peso-dollar exchange rate, or a flat rate of P50:$1 for ?legitimate OFWs."

?The BSP?s policy is to essentially let the market determine the exchange rate which has benefited from foreign exchange inflows," Tetangco told GMANews.TV on Monday when the petition kicked off.

Tetangco said BSP is aware that the peso?s strength has adversely affected both OFWS and their families, and even the export industry. Instead of interfering with the exchange rate, the government has instead set up measures to help sectors affected by the peso?s run-up against the dollar, he averred.

?We are aware that the movements in the rate affect different sectors of the economy differently. We have implemented measures to smoothen sharp movements in the rate," Tetangco asserted.

?In our analysis, excessive volatility in the rate is more undesirable to a broader base of the economy than the absolute level of the exchange rate," he added.

The national government has created a $1-billion stabilization fund through the Development Bank of the Philippines to help the export industry cope with the steady rise of the peso. No such measure has been put in place for OFWs.

Leaders of the V-Team ? Advocacy and Community Service said that should not be the case. OFWs have been considered as one of the main driving forces of the Philippine economy. Remittances from overseas Filipino workers reached $12.7 billion in 2006, their all-time highest level.

"Unlike exporter of goods; the government spends only very minimal cost on us, if at all. If government can shell out some funds to benefit exporter of goods, surely they can do the same for more than 8.5 million OFWs and nearly 25 million family members back home," V-Team said in its petition.

"Our life abroad and the life of our families back home gets harder with the continuing rise of the peso. Our families have to manage smaller budget against increased prices and we have to work longer hours and cut expenses to be able to remit more dollars. Our common goal for a shorter timeline of working away from loved ones has no doubt been lengthened. With the peso hovering around P44-P45 a dollar, it will now take us longer to achieve our plans of saving to build livelihood, if not impossible," the petition continued.

Joseph Espiritu, one of the senior leaders of V-Team, said those who have access to the Internet may add their signatures at www.petition.patnuba y.com. The petition can also be downloaded from the same site.

"Ito na ang pagkakataon nating magkaisa para pakinggan ng mga nasa poder sa Maynila ang boses natin (Here's a good chance for us to speak as one so that the powers-that-be in Manila will listen to us)," Ronnie Abeto of the V-Team said. - GMANews.TV

------- Original Message -------
Sender : Mr. Rey S. Orbon
Date : Aug 08, 2007 20:52
Title : Fw: pinag-aralan na nila... God bless

Mga Kaibigan,

Gusto ko pong ibahagi sa inyo ang latest development tungkol sa hinihingi nating mg a OFWs na magkaroon ng Special Foreign Exchage Rate ang ating mga remittances. Sa kalakip na news clippings mula sa GMANews.TV, pinag-aaralan na raw ng Malacanang ang kahilingan nating Special Forex Exchange. Sana magkaroon ng positibong resulta ang ating adhikaing isinusulong.

Kong tayo pong lahat na mga OFW's, saan mang dako ng mundo, maging ano man ang ating katungkulan o antas ng buhay, o ano man ang ating relehion at paniniwala sa buhay, AY MAGKAISA LAHAT, walang magiging imposible ano mang adhikain ang ating isulong. Ang adhikaing ating isinusulong na pinangunahan ng PMTF/V-Team, ay para po ating lahat, kaya hinikayat ko ang lahat na hindi pa sumasali sa Signature Campaign, maari po ningyong puntahan ang Website mismo ng ating campaign at doon na maglakip ng inyong pangalan. Ito po ay:

http://petition.patnubay.co m o kaya http://patnubay.com/petition

Maraming salamat po at sana gabayan ng Dakilang Lumikha ang ating adhikaing ito.

MABUHAY PO TAYO LAHAT!!!!!

Ang inyong kaibigan,

Rey S. Orbon

[itchay]

now the next challenge will be...how to foolproof the system so the exploiters can't take advantage of it.

the need may be staved off for now, due to the nice forex rate recently...