OFWs call: Don’t send money home on Nov 1-2

OFWs call: Don’t send money home on Nov 1-2
By: GMANews.TV: 10/23/2007
For more than a week now, overseas Filipino workers have been spreading through electronic mail a call to stop sending remittances to the Philippines on Nov. 1 and 2 to dramatize their appeal to the government to address their concerns over the adverse effect of the strong peso on the value of their remittances.
“Gawin natin itong sakripisyo para na rin sa ating kapakanan,” said Dick Orense from Abu Dhabi, United Arab Emirates.
The call said that if they cannot avoid sending money home on these two days, they could do so through door-to-door remittance services.
The OFWs believe that avoiding to use the banking channels to remit part of their earnings to their families in the Philippines would substantially affect the dollar inflow into the country’s reserves and hopefully put pressure on the Bangko Sentral ng Pilipinas to promptly address their concerns over the strength of the peso against foreign currencies.
“Why are prices of commodities rising when salaries are not? Whose life is improving? Those who are in Congress, Malacanang, Customs, Immigration, or the pitiful OFWs?” Orense asked.
“Isa lang ang alam ko, nang bumagsak ang dolyar, kasamang bumagsak ang buhay ng isa sa mga kapatid ko dahil nagsara ang kumpanyang pinagtatrabahuhan niya,” said Angel Samaniego, a Filipino accountant in Abu Dhabi.
In an email thread on the campaign, John Charles suggested that OFWs open a bank account in their workplace and remit only an amount that is just enough for their families back home.
“Huwag magpadala ng sobra. You can always send more in case of emergency,” he said.
“Subukan nating mapababa ang pumapasok na dolyar sa bansa sa panahong ito upang mabigyang pansin at magawan ng paraan ng mga nakapwesto na hindi naman yata tama na ang dolyar ay kinita natin sa 46 pagkatapos papalitan lang sa atin ng 45,” Charles said.
The OFWs urged recipients of the email thread to spread it to other Filipinos around the world.
“Mga kababayan, para sa atin ito. Kahit ba naman sa huling sandali at patak ng inyong pawis na marahil minsan ay may bahid na ng dugo ay ‘di pa tayo magising. Isulong ang mungkahing ito at panukala. Sobra-sobra daw ang ipinadadala nating dolyar kaya bumababa ang piso at lumalabas at malinaw na tayo pa ang may kasalanan sa devaluation ng peso to dollar. Bawasan natin ang ating remittance,” “ said Reg Cucal from Dubai.
“Huwag tayong magpadala sa mga exchange centers tulad ng Al Ansari, UAE Exchange, Thomas Cook, etc. Magpadala tayo sa mga kilalang door-to-door companies tulad ng Sky Freight at GP Express,” said another email sender.
“Ipadama natin sa gobyerno ang ating pagkadismaya sa artificial na paglakas ng piso,” the OFW said.
“Kung tunay na lumalakas ang peso bakit patuloy sa pagtaas ang presyo ng mga bilihin sa Pilipinas?” asked another.
Two weeks ago, BSP deputy governor Diwa Gunigundo predicted that the uptrend in the value of the peso against the dollar will continue for the rest of the year despite jitters from rising oil prices.
The dollar was traded at 56 pesos at its peak in early 2006 but gradually slipped until it reached 44.24 on Monday. There have been bold forecasts that it would reach P40 by the end of 2007.
OFWs have been complaining that their remittances had practically been reduced by 20 to 25 percent since the peso gained strength against the dollar while prices of commodities and services keep rising.
BSP has projected that remittances from overseas Filipinos through the banking channels would increase to $14.6 billion by the end of the year, from $12.8 billion in 2006.
As of the end of August, remittances reached $9.3 billion. The August remittances alone hit $1.2 billion, which was 10 percent more than the previous month’s $1.1 billion.