Some $1.5 billion worth of annual remittances from overseas Filipino workers are at stake in Saudi Arabia’s Nitaqat program, which requires more than 300,000 firms in the kingdom to increase their hiring of locals, and lessen their employment of foreigners, a press release from Rep. Arnel Ty (LPG/MA) 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,” he said.

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.

Aquino admin focuses
on 5 fiscal dev’t areas

The Aquino administration is proposing P438.9 billion for the Economic Services Sector for 2012, or an increase of 21.3 percent over the sector’s P361.9-billion budget this year.

Budget and Management Secretary Florencio Abad said this sectoral allocation — which is 24.2 percent of the proposed P1.816-trillion National Budget for 2012 — will be focused on supporting the government’s five priority areas for job generation and economic development.

On top of the established drivers of growth like semi-conductor and electronics and business processing outsourcing, emphasis will be on tourism development, agriculture and fisheries development, and general infrastructure.

DTI urges contractors
to process certificates

The Department of Trade and Industry in Negros Occidental called on all contractors who have renewed their licenses on or before June 30, 2011 to check their details and names with the websites of DTI, Philippine Constructors Association Inc., and the Philippine Contractors Accreditation Board and to start facilitating their certificates.

Maximo Ravena, DTI consumer and welfare division chief said PCAB has processed 95 percent of license renewal applications for 2011 to 2012 and all contractors are advised to send to PCAB their courier’s pouch or self-stamped long brown and pouch plastic envelop for mail purposes.