The year 2007 saw the continuous decline of the US dollar against major currencies, including the Philippines peso. With the decline, the income of Overseas Filipinos (OFs) in the Middle East also depreciated in value. But the dollar’s decline against the peso was just one side of a double-bladed attack. At the jobsites, the cost of living – basic commodities, services, and apartment rent – also went up. The OFs in the Middle East were caught between two mountains, each trying to squeeze whatever is left out of their blood.
Back home, prices of basic commodities and services also continued to rise despite the government’s claim of a strong Philippine economy. This added more pressure on the OFs, who are trying to maintain the same amount of dollar remittance despite the increase in their own expenses, and their families back home who, with less peso remittance income received, also are trying to cope with the ever increasing cost of living.
Alarmed by this worsening situation, two appeals were sent by the OF community to President Gloria Macapagal Arroyo in August 2007. Both appeals urged the government to find ways and means to mitigate the impact of the dollar’s continuous decline on the income of Overseas Filipinos. No less than Vice President Noli de Castro himself accompanied the petitioners to the Office of the President. But after the photo sessions and a little media coverage, no result has yet come out of those petitions.
During the Christmas and New Year season, a group of over a thousand overseas Filipinos from the Gulf States greeted President Gloria Arroyo with yet another appeal, following up on the petition sent in August. The petitioners are aware that their appeal might again fall on deaf ears. Yet they also believe that the administration of President Gloria Macapagal Arroyo must be kept aware that the OFs in the Middle East are still waiting for their actions.
The Christmas-New Year Petition was led by the Economic Sector leaders of the Riyadh OFW Consultative Assembly. Members of the group and community leaders who played vital roles in the launch of the petition were Pete Vicuna of Saudi Telecom, Ed Estrada of National Food Industries, Julius Cordova of Dallah Hospital, Gil Mamaril of Faisaliah Group, Janice T. Banga of Hammadi Hospital, Jackie Mendoza of Oleya Medical Center, Willy Morden of Royal Saudi Naval Force, Joel Macaburas and Rodel Cansanay of Sabic, Florante Supapo of Mirnah Company, Rose Cansanay of Riyadh Military Hospital, Jubie Paner of King Khalid Eye Specialist Hospital, Jilbert Mejia of Rezayat, Earl Mateo of Picpa Riyadh and Tasnee, , Alan Caseres, Noel Lansangan, Marco Ibanez, and George Bocobo all of Saudi Telecom Company, Ernesto Santos of GHD Group in Qatar, Vic Candilanza of UAE, and Freda Contreras of Kuwait.
The petitioners hope that this document will not end up in some dark corner in Malacanang, or in the CD copies that were distributed to media and overseas Filipino organizations. They hope that this petition will spark the launch of a national discourse on other fundamental issues that affect the welfare of overseas Filipinos and their families, and for the overseas Filipinos themselves to engage in intense dialogue to find the will and leadership to mobilize their organizations and resources and participate actively in the much needed reshaping of the economic and political landscape back home.
Her Excellency Gloria Macapagal Arroyo
President, Republic of the Philippines
Malacanang Palace, Metro Manila
Philippines
Thru: Honorable Ma. Lourdes P. Varona
Correspondent Secretary
Dear President Arroyo,
Last August, when the value of the US dollar dropped from P55 to P45, we sent you a petition seeking intervention of government in the alarming appreciation of the peso, and requested that the peso-dollar exchange rate be pegged at P50 to $1.
While so many suggestions on ways to control the peso’s hurting appreciation were floated by finance experts from both government and private sectors, the government failed to implement any that will help ease the our problem.
Meanwhile, during the five months that passed the dollar continued to decline and is now trading at almost P40 to $1. And there seem to be no end in sight to this down trend yet.
Therefore, we the undersigned overseas Filipinos in the Middle East are again appealing to you to please do what is needed to bring back the exchange rate to P50 to $1. Make this your gift to us, your heroes, this New Year.
Happy New Year, Madame President.
(Please see attached list of signatories)
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1 comment:
It seems the petition did not have the impact that was expected. Nearly four months have passed but the government is yet to take corrective measures. Consequently, organisations like the Migrante are seething with rage and coming up with initiatives like the no remittance day. I read something interesting on the net about the crosscurrents in the country which is keeping the investors at bay. Some blamed the governments while others took no sides. It tempted me to do some research and write a post on http://onlineremit.blogspot.com/. At the end I realised the situation is slowly getting out of control and while the government keeps promising initiatives to mend the problem, the OFWs are the ones who have to bear the brunt.
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