The Philippine Charity Sweepstakes Office (PCSO) transferred P2.514 billion of its operating fund that was not used this year its charity fund.
The move is in accordance with Republic Act which provides that “All balances of any funds in the Philippine Charity Sweepstakes Office shall revert to and form part of the charity fund provided for in paragraph (B), and shall be subject to disposition as above stated.”
The PCSO generates its own fund and allocates it to three areas – 55 percent for prize fund, 30 percent for charity fund, and 15 percent for the agency’s operating expenses.
The P2.514 billion added to the charity fund will serve more Filipinos in need of financial assistance with health related problems nationwide.
The agency said this move is a manifestation that the PCSO is upholding President Rodrigo Duterte’s social reform agenda for universal health care coverage and “continuously lives up to its mandate of raising and providing funds for health programs, medical assistance and services, and charities of national character.”