PRESIDENT Rodrigo Duterte has an extra P5 billion cash in the President’s Social Fund (PSF) arising from the unpaid remittances of the Philippine Amusement and Gaming Corp. (Pagcor) that had been collected in the final two and half years.
Pagcor’s shortcoming may very well be a blessing in disguise as Duterte may use the extra cash to fund the rehabilitation of battle-razed Marawi City.
In a report by Malaya’s Peter Tabingo, the Commission on Audit (COA) reported that the windfall got here after Pagcor failed to remit the Office of the President’s share from its gaming revenues from June 2014 to December 2016.
COA stated Pagcor stopped its remittances to the OP in the course of the switch of the PSF from the Presidential Management Staff (PMS) to the OP. Pagcor’s final remittance was made on May 2014 for P250.6 million.
The collected P5 billion funds had been totally transferred to the OP as of end-2016.
Then President Noy Aquino may have used the P5 billion for particular help to troopers, police and different legislation enforcement personnel; medical help; burial help; instructional help; subsistence allowance; livelihood help; housing help for victims of typhoons and different calamities; and different particular help.