The House Committee on Overseas Workers Affairs chaired by KABAYAN Party-list Representative Ron Salo held initial deliberations on House Bills 185, 1190, 2944, 3020, 4170, 4257, 4343, 4397, and 4469, which would protect the remittances of overseas Filipino workers (OFWs).
“There are OFWs not informed by service providers on certain money-transfer fees and charges when sending money to their families.”
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 Representative Christian Tell Yap, author of HB 1190, raised that there are OFWs not informed by service providers on certain money-transfer fees and charges when sending money to their families.
Yap said that his proposal would require intermediary financial institutions to actively disclose their service fees, thereby ensuring compliance with proper and just practices under the law.
“HB 3020 would prohibit any fees imposed without prior consultation with the Department of Finance and the Bangko Sentral ng Pilipinas.”
Citing the OFWs’ high contribution to the Philippine economy through remittances, the legislator said that the bill could help protect the financial welfare of OFWs, as well as sustain the country’s economic growth.
For his part, Antique Representative Antonio Legarda Jr., author of HB 3020, said that 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 of HB 3378, Cavite 2nd District Representative 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 P50,000 from the Overseas Workers Welfare Administration 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.
