Labor Secretary Silvestre Bello III (PNA file photo by Joey Razon) MANILA - The government is strengthening its monitoring of the economic activities of foreign nationals, including retirees, as the country continues to allow the entry of foreign labor even in the face of the pandemic. The Department of Labor and Employment (DOLE) and the Philippine Retirement Authority (PRetA) last week signed a memorandum of agreement (MOA) allowing the free exchange of foreign national data between the two agencies at the DOLE Central Office. "This data-sharing agreement will facilitate the exchange of information between DOLE and PRetA for better coordination, rendering of services, and monitoring of foreign nationals within our purview," Labor Secretary Silvestre Bello III said in a statement on Sunday, highlighting the shared goal of the two agencies of monitoring the economic activities of foreign nationals in the country. Under the agreement, PRetA can now verify the employment inform
By TED CORDERO, GMA News
Published January 1, 2021 12:23pm Government-owned or -controlled corporations (GOCCs) remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15, 2020, according to the Department of Finance (DOF). In a statement, the DOF said the GOCCs’ remittances will help fund the government’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Of the P160.62-billion remitted to the Treasury, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) No. 7656 or the Dividends Law. The RA 7656 requires GOCCs to remit at least 50% of their net earnings to the National Government (NG).