Now it can be told. The cat is out of the bag. COA just confirmed the fact that PAGCOR under remitted the five per cent share of the Philippine Sports Commission by P1.631B just for 2017 alone. The law, enacted in 1990 established RA 6847, creating the Philippine Sports Commission, during the term of then President Corazon Aquino. If you look at the records then, the late President C. Aquino, really remitted to PSC the 5% of gross from PAGCOR income. Not net.
I know. Cause I was a Sports Commissioner then in 1995 when this changed to the current 5% of PAGCOR’s net income, not gross. Then President Fidel Ramos, the genuine sportsman, visited us personally in our PSC Rizal Memorial office and requested for a TEMPORARY new arrangement. From then on, he requested that half of the 5% monthly remittance to PSC be transferred by PAGCOR to the Presidents office so he could also include other professional sports, such as golf, boxing, etc. But in fairness, he also stressed that in case PSC needs any budget for the Olympics, Asian Games, and other local and international competitions, to merely request his office and he shall automatically grant it, in case we run short of funds. This was a SPECIAL ARRANGEMENT. And FVR then kept his word. He gave our RP Sports what was due.
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