PAGCOR remits P5 billion for national government’s socio-civic projects fund
The provision of the SCPF is pursuant to Section 7 (a) of Presidential Decree No. 1869 or the PAGCOR Charter that provides the Board of Directors the functions and duties to allocate and distribute the earnings of the corporation earmarked to finance infrastructure and socio-civic project with the approval of the OPP. Moreover, the Office of the Corporate Government Counsel (OGCC), per its Opinion No. 121, Series of 2016 dated July 22, 2016, confirms the provision for the SCPF.
The OPP, in compliance with the applicable COA rules and regulations, submitted a Report of Disbursement, duly certified by the Chief Accountant and verified by the COA Audit Team Leader, covering the utilization of previous remittances prior to the release of the said P5 billion.
The funding will be used as special financial assistance and healthcare assistance for uniformed personnel; indigent individuals/families’ medical assistance, burial assistance, educational assistance, subsistence allowance, livelihood assistance, resettlement/housing assistance, and other forms of assistance for an individual, community or group for purposes such as international competition/events, sports development, environment-related activities, public-health and other socio-civic projects.
PAGCOR has contributed a total of P11.5 billion to the SCPF since 2016.
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