PAGCOR releases additional P6B to socio-civic fund, remittances to OP now totals P8.5B

March 25, 2020
PAGCOR
PAGCOR turns over P6 billlion to Socio-Civic Projects Fund Office of the President's Deputy Executive Secretary for Admin and Finance Rizalina Justol (left) receives the cheque worth P6 billion from Philippine Amusement and Gaming Corporation (PAGCOR)'s Senior Finance Officer for Fund Management Sabrina Lopez (right). The cheque represents PAGCOR's remittance to the Socio-Civic Projects Fund (SCPF) under the OP on March 24, 2020

THE Philippine Amusement and Gaming Corporation (PAGCOR) has released an additional P6 billion to the Socio-Civic Projects Fund (SCPF) of the Office of the President (OP) on March 24, 2020, bringing its total SCPF remittances to P8.5 billion after it released P2 billion and P500 million earlier this March.

According to PAGCOR Chairman and CEO Andrea Domingo, the agency’s remittances to SCPF is pursuant to Section 7 (a) of Presidential Decree No. 1869 or the PAGCOR Charter that mandates the allocation and distribution of earnings of the corporation earmarked for infrastructure and socio-civic projects.

"PAGCOR's recent remittances to the government are intended for the various funding requirements relative to Proclamation No. 922 Declaring a State of Public Health Emergency throughout the Philippines due to Corona Virus Disease-2019 (COVID-19), and the subsequent declaration of Enhanced Community Quarantine over the Entire Luzon," Domingo said.

Apart from PAGCOR's P8.5 billion remittances, the state-run gaming agency has just released its P12 billion cash dividends to the National Treasury on March 23, 2020.

Domingo added that its Entertainment City licensees also donated more than P200 million while the Philippine Offshore Gaming Operators allocated P150 million for the procurement of essential supplies such as personal protective equipment, food and medical supplies to be distributed to selected hospitals and local government units.

Meanwhile, OP's Deputy Executive Secretary for Finance and Admin Rizalina Justol expressed her gratitude to PAGCOR for its huge contributions to the government.

"We are grateful to PAGCOR for its continued to support to the Office of the President. The hefty remittances we get from the agency are being used to for high-impact projects that will benefit a lot of Filipinos," Justol said.