"To finally put a closure to the controversy over fees collected from overseas workers, the Overseas Workers Welfare Administration (OWWA) would soon be adopting a flexible exchange rate in the payment of membership fee.
OWWA chief Marianito Roque said the OWWA board has approved a new resolution providing adjustment mechanism in the collection of $25 membership fee.
“We recognized the volatility of the peso dollar exchange rate so starting January 1 we would be using a flexible rate based on the preceding month’s average,” Roque explained.
“This means that OWWA on January 1 will be recognizing the monthly average dollar exchange rate in December 2007 as basis in the collection of fees,” Roque added.
Roque said OWWA resolution No. 38 also provides a crediting mechanism that would extend for three months the insurance coverage for overseas workers who were overcharged by P225"
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