The expanded Small Town Lottery (STL) of the Philippine Charity Sweepstakes Office (PCSO) has earned a whopping PHP5 billion in simply a span of 5 months this year, based on PCSO General Manager Alexander Balutan.
“We’ve already earned PHP5,018,967,224.14 which was 173.38 percent higher compared to the revenue generated in the same period last year,” Balutan stated in a assertion on Tuesday.
From January to May 2016, the PCSO recorded a whole of PHP2,066,178,884.00 income from STL and a whole of solely PHP6.Four-billion for the entire year.
“The increased STL sales in just 5 months simply shows that the PCSO is already gaining ground in our efforts to increase the government’s revenue in order to help more Filipinos in need of medical assistance,” Balutan stated.
At current, greater than 50 of the 56 Authorized Agent Corporations (AACs) accepted by the board are actually working whereas one other 36 are set to be declared as licensed subsequent month to function STL.
“In January, 56 AACs were launched and the board recently approved the authorization of 36 additional agent corporations to help us increase our revenues even more,” he stated.
Balutan stated the PCSO will proceed the STL enlargement because it envisioned to have STL operations within the 81 provinces and greater than 100 chartered cities everywhere in the nation.
The PCSO solely authorizes one AAC to function in each province and chartered metropolis throughout the nation.
Balutan stated that he was assured that the PCSO can generate up to PHP27-billion this year from STL alone to fund well being packages and charitable providers as directed by President Rodrigo Duterte.
Balutan defined that 30 p.c of the gross sales from STL goes to charity fund of PCSO which shall be used for the assorted well being and charitable packages of the company, together with the Individual Medical Assistance Program (IMAP) whereby greater than 300,000 Filipinos benefited in 2016.(PNA)