Readers speak on ofw financial literacy

This column gives way today to reactions and comments by our readers on past topics tackled by BizLinks. We received a number of suggestions related to the welfare of our overseas Filipino workers, some of them coming from those currently employed abroad.

One of our readers, Joseph J. So, shares some observations about the quality of our OFWs’ language literacy, while at the same time gives suggestions on how to further improve on it, therefore making our countrymen more competitive against other nationalities. Here’s what he says:

“I agree with your comments. I would like to share with you following observations.

Improving language skills

“1. A Taiwanese friend prefers Indonesian caregivers over Filipinos because the former can speak basic Chinese language. To increase the demand for Filipino caregivers in Taiwan and minimize cultural misunderstanding, he suggested that our government requires employment agency to provide training programs to speak the language and to understand some basic knowledge of Chinese culture and customs.

“What happens is that employers have to speak the basic English to get full utilization of their services. The Indonesian government does this because it realizes that the employers are mostly elderly who cannot speak basic English.

“By the way, the basic salary is about NT$19,500 (US$540, US$ to NT$36). I understand that the salary in other countries is much lower than this amount.

“On the other hand, a visiting Filipino doctor friend from Shanghai told me that employers like hospitals for expats prefer Filipinos for their command of English. This applies also to Filipino maids.

“In this connection, I would like to propose that the additional two years of the K12 curriculum consider improving the English of elementary students. I would guess that most Filipino maids at least completed secondary education. This would make Filipino maids very competitive.

“I read somewhere that a congressman is questioning the Department of Education for issuing a directive to universities to exclude Filipino from their curriculum. I do not agree with the congressman for the above-mention reasons.

Concessional loans for OFWs

“2. My understanding is that the OFW remittances are used for food, education, medicine, and the balance for installment payments for purchase of house or start a small business like taxi operator, etc.

“I would like to propose that banks or other financial institutions grant loans to OFWs at concessional terms and interest. I am positive that OFWs are good borrowers.

“By the way, I read in the newspapers that Senator Bam Aquino’s proposed bill to assist small and medium enterprises is awaiting the president’s signature. In this connection, I would like to propose that the proponents of this bill give preference to the OFWs.”

Reader concern on mandatory insurance

One issue that this column recently raised is the need to improve the transparency of how funds by the Overseas Workers Welfare Administration are handled. With thousands of Filipinos working abroad, every centavo in fees collected by OWWA should be accounted for.

Jun Poquiz, another reader, raises the same concern. He writes:

“I am an OFW Civil Engineer who is sometimes sent to select workers for the Kingdom of Saudi Arabia by my company.

“The company pays US$144 as mandatory insurance for two years contract per worker deployed.

“I don’t have any clue where is this money going? This is big money considering the number of OFWs leaving the country daily.

“I would appreciate if you have an answer to this.”

I hope the Department of Labor and Employment who oversees OWWA will be able to answer Poquiz’s question. Some questions that cross my mind are: Who’s undertaking the insurance? Do OFWs know that they are insured?

Reader on OFW hospital

From Paul de la Cruz, who gives his mailing address in Al-Khobar, Saudi Arabia, comes a suggestion that should be given some attention. My discussion follows his letter below:

“I am a regular reader of Philstar.com columns, including BizLinks, and I noticed your subject/topic … is to educate and assist OFWs on financial planning.

“It has been known that OFWs are our modern-day-heroes due to monthly remittances that are usually published in every newspaper. However, I am just wondering how come nobody thought of the idea for OFWs and their immediate family members to have their own hospital?

“I hope that someday, someone will lead a campaign for OFWs to have their own hospital.”

With the amount of money that our government has collected from OFW sweat spanning for close to half a century already, it makes sense for our lawmakers to have thought of having dedicated hospital care for OFWs and their family members.

This is simply “giving back” to our countrymen we call today’s modern day heroes.

Reader on financial planning assistance and education

Finally, from a reader who regularly sends comments and reactions, Jerry Quibilan: “Like you, I also find it very important to educate and assist OFWs on financial planning so that they will not simply remit most of their earnings to their families back home. We are aware that a good portion of their remittances are sometimes just spent in shopping and dining at the malls.

“When Atty. Toting Bunye was still a Monetary Board member, I had suggested to Toots Ople, who is very active in assisting OFWs through the Blas Ople Foundation, to get in touch with Atty. Bunye as BSP had a program to help OFW’s on financial planning.”

I understand that BSP still has that program ongoing, and other non-government organizations that wish to pursue the same advocacy should get in touch with the concerned central bank officials.

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Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at [email protected]. For a compilation of previous articles, visit www.BizlinksPhilippines.net.