$1.5-billion OFW remittances may be lost due to Saudi Arabia's … ~ Northern Blogs

$1.5-billion OFW remittances may be lost due to Saudi Arabia's …

2:54 PM

gtventic

Some $1.5 billion worth of annual remittances from overseas Filipino workers (OFWs) in Saudi Arabia could be lost because of the kingdom’s Nitaqat program, which requires more than 300,000 firms there to increase their hiring of locals, and lessen their employment of foreigners, an administration lawmaker said yesterday.

“There’s no question Nitaqat is a potential threat to the job security of some Filipinos in Saudi Arabia, particularly those whose skills can be readily replaced by locals there,” LPGMA party-list Rep. Arnel Ty said yesterday.

“For example, once Nitaqat becomes effective, Saudi citizens must comprise at least 10 percent of the labor forces of all construction companies, and a minimum of 70 percent of the staff headcount of all financial firms there,” he said.

Migrant workers’ groups have warned that up to 150,000 OFWs in Saudi Arabia could possibly be displaced by Nitaqat.