Constituting the Committee on the Remittance System For Filipino Overseas Workers

EXECUTIVE ORDER NO. 378 November 23, 1989

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:

Sec. 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...

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Summary of Executive Order No. 378

Establishment of the Committee on Remittance System for Filipino Overseas Workers
- Constituted to improve the remittance system for Filipino overseas workers through official exchange channels. (Sec. 2)
- Composed of the Executive Secretary (Chairman), Secretary of Labor and Employment, and Governor of Central Bank of the Philippines. (Sec. 1)
- May invite heads of other departments, agencies, or organizations to participate. (Sec. 1)

Functions of the Committee
- Adopt policies and programs to attract increased remittance of earnings of Filipino overseas workers through official channels. (Sec. 3a)
- Approve and confirm the adoption of incentives for Filipino overseas workers to encourage remittance through official channels. (Sec. 3b)
- Approve and confirm the adoption of services and incentives to attract banking institutions to participate in improving dollar remittances of overseas workers. (Sec. 3c)
- Approve and confirm the adoption of measures by government and quasi-government offices/institutions in support of the Committee's programs, subject to the President's approval. (Sec. 3d)

Technical Staff
- Headed by Vitaliano N. Nanagas II, President of Philippine Deposit Insurance Corporation, as Action Officer. (Sec. 4)
- Assisted by Ma. Leonora Vasquez-de Jesus, Assistant Secretary of Department of Labor and Employment, and Mario Padilla, Assistant Executive Secretary for Budget and Corporate Affairs, Office of the President, and representatives from other agencies as deemed necessary. (Sec. 4)

Functions of the Technical Staff
- Conduct research and studies, seek assistance from government offices, prepare programs and plans, and provide advice and recommendations to the Committee. (Sec. 4a)
- Initiate, coordinate, and integrate activities with other government offices concerning strategies for a sustained information campaign through diplomatic and consular offices abroad. (Sec. 4b)
- Draw up, install, and maintain a monitoring system to gauge the progress of public and private sector initiatives in furtherance of the Executive Order's objectives. (Sec. 4c)
- Prepare and promulgate rules and regulations as guidelines for the implementation of the Executive Order. (Sec. 4d)
- Perform other tasks as directed by the Committee. (Sec. 4e)

Funding and Implementation
- The Office of the President shall provide the necessary funds for the implementation of the Executive Order. (Sec. 5)
- All orders, issuances, rules, and regulations inconsistent with the Executive Order are repealed or modified accordingly. (Sec. 6)
- The Executive Order takes effect immediately. (Sec. 7)