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Thursday, February 29, 2024

PAGCOR lauded for gains, projects

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The House of Representatives” Committee on Appropriations has lauded the financial performance of the Philippine Amusement and Gaming Corp. as well as its planned projects for 2020.

At the budget deliberations for the 2020 national government budget, the committee, presided over by Rep. Manuel Dalipe of Zamboanga City, on Friday reviewed the proposed funding for the state gaming company next year as well as its performance so far this year and its projected revenues in 2020.

PAGCOR assistant vice president Sharon Quintanilla briefed the committee on the agency’s financial condition as well as disbursements.

Quintanilla said that of the P104.12-billion total generated income of PAGCOR last year, the gaming firm was able to allocate P58.95 billion for nation-building programs. By the end of 2019, the agency has estimated a P73.88-billion total revenue, with P51.53-billion contribution to projects on nation-building, such as school building and health services.

She added that in 2020, PAGCOR aims to generate P75.17 billion and allot P49.78 billion of the revenue to such initiatives.

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Albay Rep. Edcel Lagman during the hearing thanked PAGCOR for its efforts to support the local governments, especially during their rehabilitation after being hit by calamities.

“I just would like to express my gratitude for the assistance the leadership of PAGCOR and its staff to the various LGUs in my district, including those in the entire Albay province, particularly during calamities. This assistance was the past, presently, and hopefully forthcoming,” Lagman said.

Deputy Majority Leader Juan Pablo Bondoc, who represents the Fourth District of Pampanga, also expressed his gratitude for the agency “for being a constant partner of Pampanga in rebuilding the province during calamities.”

“I would like to manifest my thanks to the PAGCOR family. This partnership was particularly strengthened when our Cabalen, the Honorable Andrea Domingo, was named chairwoman and chief executive officer… There are many schoolchildren studying in schools built by PAGCOR. [And] the evacuation centers matter a lot,” he said.

In addition, Rep. Antonio Albano of the First District of Isabela lauded the efforts of PAGCOR to achieve its goals and contribute to the national coffers.

PAGCOR vice president Carmelita Valdez reported that among the key initiatives of the agency for next year is the augmentation of the industry’s gross gaming revenues and contributions to national government treasury and nation-building efforts.

“Additionally, it shall be the focus of the agency to support major health programs and the other priorities of the administration,” Valdez said.

PAGCOR vice president James Patrick Bondoc, after discussing some of the agency’s programs, underscored that they have anchored these programs on the directive of President Rodrigo Duterte to prioritize projects that address the needs of the less fortunate Filipinos.

Prior to adjournment, Dalipe expressed appreciation to the agency saying, “The chair would like to thank PAGCOR for being our partner in nation-building.”

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