RIYADH, 7 March 2004 — The Barya Mo Buhay Ko (BMBK) funds are intact and could be availed of by needy Overseas Filipino Workers (OFWs) once the Securities and Exchange Commission (SEC) approves BMBK's certificate of registration.
"The 2 million pesos donated by Senator Lacson are intact and could be availed of by OFWs in need once the SEC approves BMBK's certificate of registration. But an OFW's application for assistance has to be recommended by the Philippine Overseas Labor Office (POLO)," Francis M. Maca, BMBK chairman, told Arab News.
Maca issued the statement after Ambassador Bahnarim A. Guinomla, who is currently in the Philippines, was quoted to have said: "Some people are saying that I grabbed some of the 2 million pesos that Lacson sent to Riyadh to help OFWs in distress, but that is not true."
Maca said that "BMBK... and current officers... state solidly that the fund is intact.
The donation is part of the P5 million Lacson pledged when he and other senators and other legislators visited Riyadh for public hearings and consultations with OFWs when the absentee voting bill that was then being debated in Congress and the Senate.
Other government officials also made pledges when the BMBK program was officially launched at the Riyadh Marriott Hotel here some time back. They included Sen. Edgardo Angara, who pledged P5 million; and Rep. Bobby Syjuco, P1 million. Sen. Aquilino PImentel donated $100.
Syjuco issued a cheque for P200,000 but it was returned because the name of the payee did not jibe with the name of BMBK's account at the Saudi Hollandi Bank. Request for replacement for the cheque has been made.
The P2 million donated by Lacson came from his countryside development fund, released by the Department of Budget and Management through the Department of Labor and Employment (DOLE). DOLE transferred the amount to the account of then Labor Attach Jainal Rasul.
When Rasul left Riyadh, the amount was turned over to Labor Attach Manuel "Dodong" Roldan who replaced him.
However, OFWs could only avail of the funds if BMBK is already registered with the SEC.
"The current set of officers have already ... submitted the necessary documents to the SEC," Maca said.
He aded that the P2 million will be released in three tranches in accordance with DOLE guidelines.
ൗ% will be released upon SEC approval of BMBK's registration; 50 percent upon submission of the accomplishments and liquidation report on the result of the first release and favorable evaluation or inspection by the POLO representative; and 35% upon submission of the accomplishments/liquidation report on the second release and favorable evaluation/inspection by a POLO representative," Maca said.
