EXECUTIVE ORDER NO. 378
EXECUTIVE ORDER NO. 378 -
CONSTITUTING THE COMMITTEE ON THE REMITTANCE SYSTEM FOR FILIPINO
OVERSEAS WORKERS
WHEREAS,
the Filipino overseas workers have contributed significantly to the
country’s economic recovery;
WHEREAS, despite the government’s efforts to encourage these workers to
remit their earnings through official channels, the greater percentage
of their earnings is still coursed through unofficial channels and does
not enter into the country’s official foreign exchange system;
WHEREAS, the government recognizes the need to provide for a fast and
reliable remittance system for Filipinos overseas that will ensure
speedy delivery to the beneficiaries and afford protection to these
Filipinos;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by
virtue of the powers vested in me by law, do hereby order:
Section 1. There is hereby constituted the Committee
on Remittance System for Filipino Overseas Workers, hereinafter
referred to as the Committee, to be composed of the Executive Secretary
as Chairman and the Secretary of Labor and Employment and the Governor
of Central Bank of the Philippines as members.
The Committee may invite heads of other departments,
agencies/organizations to participate in its deliberations in the
pursuance of its objectives.
Sec. 2. The primary objective of the Committee
shall be to improve the remittance system for the Filipino overseas
workers through the official exchange channels.
Sec. 3. This Committee shall have the following
functions:
a.
to adopt policies and programs which shall attract increased remittance
of the earnings of Filipino overseas workers and tap the vast
potentials of the said foreign exchange source;
b. to approve
and confirm the adoption of a package of incentives to Filipino
overseas workers to encourage them to remit their earnings through
official channels;
c. to approve
and confirm the adoption of a package of services and incentives that
will attract and encourage the banking institutions to actively
participate in the government’s programs on improving dollar
remittances of overseas workers; and
d. to approve
and confirm the adoption of measures to be undertaken by appropriate
government and quasi- government offices/institutions in support of the
Committees programs, all subject to the approval of the President.
Sec. 4. A Technical Staff shall be created to
support the Committee to be headed by Mr. Vitaliano N. Nanagas II,
President, Philippine Deposit Insurance Corporation as Action Officer
and assisted by Mrs. Ma. Leonora Vasquez-de Jesus, Assistant Secretary,
Department of Labor and Employment and Mr. Mario Padilla, Assistant
Executive Secretary for Budget and Corporate Affairs, Office of the
President, and representatives from other government agencies and
corporations as the Action Officer may deem fit and necessary.
The functions of the Technical Staff are as follows:
a.
To conduct research and studies, seek and secure the assistance of any
office, agency or instrumentality of the government, prepare programs
and plans, and provide advice and recommendations to the Committee as
may be necessary for the formulation of policies affecting and relating
to its functions;
b. To
initiate, coordinate and integrate activities with other offices and
instrumentalities of the government concerning strategies to be adopted
in the conduct of a sustained information campaign to be waged through
our diplomatic and consular offices and abroad;
c. To draw up,
install and maintain a monitoring system that would observe and gauge
effectively the progress of the public and private sector’s initiatives
in furtherance of the purposes and objectives of this Executive Order;
d. To prepare
and promulgate such rules and regulations to serve as guidelines for
the implementation of this Executive Order; and
e. To perform
such other tasks as the Committee may direct.
Sec. 5. The Office of the President shall provide
the necessary funds for the implementation of this Executive
Order.
Sec. 6. All orders, issuances, rules and
regulations or parts thereof which are consistent with this Executive
Order are hereby repealed or modified accordingly.
Sec. 7. This Executive Order shall take effect
immediately.
DONE in the City of Manila,
this 23rd day of November, in the year of Our Lord, nineteen hundred
and eighty-nine.
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Since 19.07.98.