PSC should get original 5 percent share from Pagcor’s revenue – Pacquiao

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SENATOR Manny Pacquiao said on Monday that he is willing to personally talk to President Rodrigo Duterte regarding the restoration of original five percent share of the Philippine Sports Commission from the revenues of the Philippine Amusement and Gaming Corp. (Pagcor).

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Pacquiao, who chairs the Senate Committee on sports, said that the Philippines Olympic Commission (POC) during the committee hearing on Tuesday vowed to bring the Philippines its very first Olympic gold once the five-percent revenue share from the state gambling operator is restored to the PSC.

Section 26 of Republic Act 6847 or The Philippine Sports Commission Act states “five percent (5%) of the gross income of the Philippine Amusement and Gaming Corporation… shall be automatically remitted directly to the Commission and are hereby constituted as the National Sports Development Fund.”

But the PSC, for more than two decades, has only been receiving half of what RA 6847 prescribed.

PAGCOR Assistant Vice-President for Community Relation and Services Department Arnel Ignacio, at the hearing explained that it was during former President Fidel Ramos’s time when the adjustment on Pagcor’s remittance was made.

The alteration was left unchanged even after the Ramos administration because his predecessors did not issue a new directive on the matter.

“There should be another directive from the President,” Ignacio told the committee.

“I think it would be better if we talk to the president and inform him about the situation so we can legally restore the PSC shares,” Pacquiao said in Filipino.

Pacquiao said that Pagcor now owes the PSC around P26-billion of unremitted shares, though he added that the Pagcor could initially settle P20-billion with the PSC so the latter can use the fund to start the programs for sports development.

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