Huwebes, Mayo 28, 2015

Is the PCSO going bankrupt?



Well, yes and no.

Philippine Charity Sweepstakes Office Chairman Erineo "Ayong" Maliksi disclosed recently that the revenue-generating agency is running out of funds intended to provide financial assistance to indigent Filipinos.

Did that mean that he inherited a bankrupt agency?

Not really.

It seems that at least 13 laws mandate the PCSO to provide mandatory contribution to different government agencies. Reports indicate that just recently, the  PCSO released P100 million to the Commission on Higher Education as its mandatory contribution to that agency.

The basic mission of the PCSO, however, is to generate funds for health programs and national charities through sweepstakes, races, lotteries and other fund-raising schemes.

Thus, for the PCSO give part of its funds for other government programs and projects is really to abandon its core function of helping the poor and the needy.

Albay Gov. Joey Salceda is one public official who's aghast at Maliksi's shocking revelation.      

“The PCSO is overburdened and overloaded with mandatory obligations from all sorts of laws. The true PCSO mandate is individual medical assistance—it does not state there (in its charter) sports assistance and even traffic assistance,” he fumed.

What the PCSO chairman should probably do is to go to Congress and urge lawmakers to repeal the laws earmarking PCSO funds to other government offices.

This would put the PCSO recover from financial hemorrhage that now prevent it from extending financial assistance to poor and low-income Filipinos who are sick and need urgent medical attention.

The PCSO earns millions from sweepstakes, lotto, small-town lottery and other games of chance. But this money should go exclusively to helping the poor, not to putting up basketball courts or paying the salaries of traffic aides. 

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Image by PCSO

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