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OFWs asked to invest in new retail T-bills to fund govt projects

Posted on 12 March 2019 No comments
Seminar participaants pose with Deputy Treasurer Erwin Sta Ana  (in green shirt), who said the national budget taken from taxes is not sufficient to fund the national projects so the government needs to borrow from the public by issuing the RTBs.

By George Manalansan

Philippine government officials are seeking to tap the help of overseas Filipinos in funding the Duterte administration’s “Build, build, build” program by opening the online trading of retail treasury bills, which are bonds that target migrant workers.

According to the officials led by Deputy Treasurer Erwin Sta Ana, the national budget taken from taxes is not sufficient to fund the national projects so it needs to borrow from the public by issuing the RTBs.

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Sta Ana was the featured speaker in what the Consulate billed as a financial literacy seminar held on Feb 24 in its conference room.

Consul General Antonio Morales welcomed the treasury team, and said that as part of his advocacy for improving the future of overseas Filipinos’ health and wealth, he was recommending that they invest in government securities.

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Sta. Maria discussed the government projects that need funding, including infrastructure, mass transportation in the cities, railways, flood control, seaports, health, social services, education an many others.

He said the national government through the Department of Finance, has issued commercial papers and government securities to help fund projects for the for the current. These investment instrument are offered and can be accessed online through www.treasury.gov.ph, and directly through banks. The offering is available only on Feb 26 to Mar 8, 2019.

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Also part of the team was Francis Chua of DBP who explained the requirements and the process involved in investing in the RTBs with a tenor 91 days, 182 days or 364 days, with annual interest rates starting at 4.75%.

He said the interest earnings are credited to the investor’s settlement account quarterly, but there is a 25% withholding tax to be deducted from the amount each time.



Benjamin Bongolan of Land Bank said the RTBs are safe investment, calling them “matibay”. He also said it is affordable, secure as it is sovereign-backed, high yielding, convenient, with interest interest payment, easy to sell, and is low risk, compared to high-risk private corporation investments.

In addition, he said the minimum investment for the RTBs is just Php5,000, compared to Php50,000 in corporate private bonds. He added that OFWs can invest directly with the treasury to enjoy primary market rates while if the purchase is through banks, they might end up buying at secondary market prices.

Despite the seriousness of the topic, the lectures were often interspersed with jokes so that laughter often filled the room.

During the question and answer session that followed, the audience asked for more information about the process of investing in the RTBs online, as well as the requirements.
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The SUN editors and writers receive POLO awards

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The SUN's two editors and two contributors were awarded plaques of appreciation by the Philippine Overseas Labor Office during recognition rites held last night, Mar. 10.

Recipients of the awards were lawyer and editor Daisy CL Mandap, associate editor Vir B. Lumicao, and OFW contributors Marites Palma and Rodelia P. Villar.
Editor Daisy Mandap receives her plaque from Consul Deric Atienza

Associate  Editor Vir B. Lumicao (in  brown pants) wtih
L to R Clarin, Tamayao, Villafuerte, Sunga,Dela Torre and Atienza  

Mandap, Lumicao and Palma were honored for their work in protecting migrant workers by educating them about their rights and  by advocating their welfare in various ways. Through their efforts, dozens of overseas Filipino workers have been rescued from abusive employers and human traffickers, and referred to the authorities for help. They have also extended help to ailing migrant workers and the family members of those killed while at work.

Villar, who heads an online support group for newly arrived Filipino domestic workers, was cited for her volunteer work at Polo for the past nine months.
Marites Palma

Rodelia Villar 

About 50 individuals and associations in Hong Kong were conferred plaques and certificates of recognition all signed by Labor Attache Jalilo dela Torre. They included non-Filipino partners of Polo like former Hong Kong legislator Emily Lau and heads of non-government organizations like the Mission for Migrant Workers, Bethune House Migrant Women's Refuge, Card Hong Kong and Enrich.

Assisting Dela Torre in handing out the awards were Consul Roderic Atienza, Deputy Labor Attaches Angel Sunga and Antonio Villafuerte, and Welfare Officers Marivic Clarin and Virsie Tamayao.


It was the first time ever that Polo had handed out awards to volunteers and partners in carrying out its work in Hong Kong.

The SUN, which was founded in December 1995 by publisher Leo A. Deocadiz, has long been recognized not just  for its pioneering work as the foremost Filipino community newspaper in Hong Kong, but also for its work in uplifting the conditions of Filipino migrant workers in Hong Kong.

Mandap's work for the Filipino migrant community earned her the Hong Kong Chief Executive's Commendation for Community Service award in 2012, the University of the Philippines' Distinguished Alumna in Public Service award in 2014, and the Glory Medal of Distinction award from the UP College of Mass Communication in 2017.

Migrants urge better work conditions in Women’s Day rally

Posted on 08 March 2019 No comments
Image may contain: 2 people, text
Protesters call for end to 'modern day slavery'
Image may contain: 1 person
A young protester
By The SUN

A small group of migrant domestic workers marked International Women’s Day today, Mar. 8, by staging a rally outside the Central Government Offices in Tamar to call for equitable pay and working conditions for n workers in Hong Kong.


The demonstrators from the multi-ethnic group Asian Migrants Coordinating Body called for an end to what they called “modern day slavery in Hong Kong” by giving migrant helpers a living wage and protection from overcharging by recruitment agencies.

“Nowadays women from poor countries like the Philippines, Indonesia, Thailand, Nepal and Sri Lanka leave their families to work as modern day slaves in Hong Kong. They are products of their government's neoliberal Labor Export Policy, cheap labor in first world countries that generates billions of dollars for their government's debt-ridden economy,” said AMCB in a statement.
Making the situation worse, according to the group, is Hong Kong’s refusal to ratify ILO Convention No. 189, which outlines the rights of migrant workers under internationally accepted standards.



Instead of affirming the convention, Hong Kong has imposed more detrimental policies like depressed wages, unsuitable accommodation, insufficient food and heath care, non-prosecution of erring recruitment agencies and others, said the protesters.
Worse, they said migrants are treated like second-class workers in Hong Kong because they are excluded from several statutes that provide for labor protection, like the Minimum Wage Ordinance and the Mandatory Provident Fund.
The group called for increasing the minimum wage for migrant workers to $5,500 and the food allowance to $2500 per month, for 11 hours uninterrupted rest and decent accommodation for them, and the prosecution of recruitment agencies collecting illegal or exorbitant fees



The demonstration marked the day in 1908 when worldwide protests for equal working women all over the world were held to protest the unjust working conditions suffered by members of the Ladies Garment Workers Union in New York City.



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Macau DH jailed 2 months for taking out loan using expired contract

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Francisco was arrested at the Sheung Wan ferry terminal as she tried to re-enter HK from Macau

By Vir B. Lumicao

A Macau-based Filipina domestic worker was jailed for two months on Mar 8 for using an expired work contract to take out a $20,000 loan in 2016, then disappeared after paying the first few installments.

Melessa Francisco, 27, pleaded guilty to “obtaining pecuniary advantage by deception” before Magistrate Peter Law in Eastern Court.
Francisco’s sentencing came a month after she was arrested at the Hong Kong-Macau Ferry Terminal in Sheung Wan while trying to re-enter the SAR on Feb 7.

She was charged in court the next day and was not allowed to post bail for having absconded in 2017.



The charge stemmed from her taking out a loan from Prime Credit on Jul 16, 2016 using her contract that had already been terminated.

Despite finding a new employer, she only paid back the first $2,100 monthly installment, prompting the lending company to investigate, and uncover the deception.
The financing company complained to the police, who were able to locate Francisco and arrest her in December 2017. But she jumped police bail and fled to Macau, where she eventually found a job also as a domestic helper.

During mitigation, the defense counsel said his client had paid back $7,200 to Prime Credit but did not have the payment receipts.
Magistrate Law ordered the prosecutor to contact the lender and verify the repayment record of Francisco. When the case resumed, the prosecutor said the defendant had been able to repay a total of $15,209 including her first installment.

The defense lawyer asked for a lenient sentence, citing that Francisco had pleaded guilty to the charge and repaid the bulk of her loan.



He had said earlier that Francisco was supporting her 55-year-old father and 52-year-old mother in the Philippines.

The magistrate said he considered the Filipina’s guilty plea and gave her a discounted three-month jail sentence. He reduced the sentence further to two months because he said Francisco had repaid a large proportion of the loan.
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