NVizcaya DOLE ready to help displaced OFWs
Bayombong, Nueva Vizcaya (17 February) -- The Department of Labor and Employment(DOLE) here is on guard for Overseas Foreign Workers(OFWs) in the province who will be displaced as a result of the global financial crisis.
"As of now, we have already receive a case of one OFW and we referred it immediately to Overseas Workers Welfare Administration (OWWA)," said Pacifico Moralit, DOLE district officer.
He said OFWs who will be displaced can avail of DOLE's Philippine Expatriate Livelihood Support Fund (PELSF), a loan package of P50,000.00 which will be given by its allied agency, the Overseas Workers Welfare Administration(OWWA) with a 5 percent interest per annum.
Moralit said displaced OFWs must prepare their project proposal and subject themselves for validation of their termination from work through the Philippine Overseas Labor Office (POLO) in various countries.
He said the loan package is laid out by the government to help displaced OFWs in coping up with the global financial crisis.
"And we are presuming that there will be more OFWs who will be retrenched this year," Moralit said.
According to Moralit, OFWs from Taiwan and Korea were the mostly affected workers while in Cagayan Valley region, the provinces of Isabela and Cagayan were the hardest – hit by retrenchment brought by the global financial crisis. (PIA NVizcaya) [top]