OWWA membership fee for Feb down to P1,023.45

The peso equivalent of the $25 Overseas Workers Welfare Administration (OWWA) membership fee that Filipino workers departing this month for job contracts overseas has gone down to P1. 023.45, from P1, 043.58 in January. The lower peso equivalent of the $25 fee is based on the peso-dollar reference rate of P40.938: $1, the average exchange rate for January, according to an advisory posted in the OWWA website. This was in line with OWWA Resolution No. 38, dated December 17, 2007, providing for a flexible exchange rate for the peso equivalent of the $25 OWWA membership fee in view of the peso-dollar rate fluctuation. Apart from the OWWA membership fee, departing OFWs are also charged P900 contribution to the Philippine Health Insurance Corp. (Philhealth), and P100 processing fee to the POEA. Local recruitment agents have complained that OWWA and the Philippine Overseas Employment Administration were overcharging the OFWs by using a peso-dollar exchange rate of P51:$1 or its peso equivalent of P1, 275 when the exchange rate was already at P42:$1. The OWWA fee was initially reduced to P1, 050 from Dec 19 to 31, using an exchange rate of P42:$1. Resolution 38 provided that beginning January 1, 2008, the conversion rate will be based on the previous month’s average exchange rate, as determined by the Bangko Sentral ng Pilipinas. The OWWA board allowed a retroactive application of Resolution 38 to benefit OFWs who paid the OWWA membership contribution at the old exchange rate from Jan 1 to Dec 18, 2007. They will be issued credit memoranda entitling the bearing OWWA member to a three-month membership extension. - GMANews.TV