Overseas Filipino workers are up in arms over the government's proposal for them to send their remittances solely through the Philippine Postal Savings Bank, abs-cbnNEWS.com learned Wednesday.
"Yes it (government) is willing to give us a special rate, provided we course our remittances through their favorite Postal Saving Bank," said Francis Oca in an e-mail from Riyadh, Saudi Arabia.
Oca, a certified public accountant who has beenin Riyadh for the last 23 years, said he feels insulted by the proposal.
Oca questioned a proposal by Malacañang that was backed by President Arroyo's economic managers to allocate $1 billion in funding to exporters for a preferential peso-dollar exchange rate.
The proposal came amid the continued improvement of the peso against the US dollar. From 56 in September 2005, the peso now averages at 45:$1. [Read more]
No comments:
Post a Comment