NextGen Day

A House speaker announced on Wednesday that the Philippine Amusement and Gaming Corporation (PAGCOR) had allocated PHP30 million to PHP50 million for each congressional district as disaster resilience funding to guarantee the safety and survival of the nation’s disaster-prone areas.

The PAGCOR provision, which amounts to between PHP7.29 billion and PHP12.15 billion for the 243 parliamentary districts, will provide cash to help with disaster response and recovery, according to a statement from Elizaldy Co, chairperson of the House Appropriations Committee.

We appreciate PAGCOR Chairman Al Tengco’s willingness to donate buildings with evacuation and disaster resilience. This sum will benefit each district in surviving the regular typhoons, floods, earthquakes, and volcanic eruptions that our nation experiences, added Co.

Tengco said the House panel during the agency’s congressional budget hearing that the gaming regulator’s revenue for the previous fiscal year was PHP35.48 billion, while its revenue for the first half of this year is already PHP26.7 billion.

Co stated that by allocating PHP3.5 billion for the development of multipurpose evacuation centers and 77 disaster-prone locations in 2019, PAGCOR has been assisting the nation’s efforts to improve disaster preparedness and recovery.

In various regions of the nation, 15 evacuation shelters have now been finished.

According to Co, PAGCOR also provides funds for social programs aimed at Filipino adolescents, low-income families, and recipients of the Universal Health Care program.

According to Republic Act 11223, it gave PHP7.71 billion to the Universal Health Care Program for 2021.

Rufus Rodriguez, the deputy speaker, disagreed with the rumored proposal to sell or privatize PAGCOR to the private sector, claiming that the organization already generates “tens of billions of pesos” annually for the government and its many public service initiatives.

Rodriguez argued, “Why kill, or more accurately, why sell the goose that lays the golden eggs?” since he was adamantly opposed to privatization it.

However, Rodriguez said that PAGCOR ought to quit acting as both a regulator and an operator at the same time.

In order for PAGCOR to continue operating gaming casinos, he suggested creating a regulatory body for the casino gaming industry.

“This situation of PAGCOR being a regulator and a player is not conducive to recruiting investments,” he said. “It’s not fair to businessmen investing in casinos.”

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