Corruption in P1B coffee bill ‘obvious’
THE Palace maintained that corruption is “obvious” despite claims of former Philippine Amusement and Gaming Corp. (Pagcor) Chairman Ephraim Genuino that the P1-billion coffee budget was not padded as alleged.
“The budget for this year yata sa kape [maybe for coffee] is only P30 million. How are we able to do it in P30 million when they did it in P167 million? So obviously there is something wrong. There was an obvious abuse of the consumption of coffee there,” Malacañang spokesman Edwin Lacierda told reporters on Thursday.
He said that they disagree with the former Pagcor administration’s claim that there was poor math in the computation of its coffee consumption expenditure.
“We believe that there was widespread corruption in the consumption of coffee. They’re drunk with coffee there, so our position is that we believe in the revelations made by [current Pagcor] Chairman (Cristino) Naguiat (Jr.) and I think that should be properly investigated,” Lacierda added.
Pagcor also on Thursday announced that it achieved another record-breaking feat as it turned in a whopping P3.05 billion total income for June 2011, the biggest income ever earned for a single month in the corporation’s history.
Its June 2011 income performance was the second time in a row that it posted a new revenue record.
In May, Pagcor surpassed the P3-billion mark after its earnings reached P3.03 billion.
Naguiat reported that the state-owned gaming firm increased its revenues by P334 million in June 2011 compared to the same period last year.
“We generated more than P2.07 billion from Pagcor’s own gaming operations, and P984 million from regulated gaming operations like commercial bingo and licensed casino operations, among others,” he said.
The agency’s June revenues brought to P17.22 billion the total income of Pagcor during the first half of the year.
This was P1.68 billion higher than the gross earnings of Pagcor from January to June 2010.
Pagcor’s remarkable performance, according to Naguiat, mainly stemmed from the management’s unrelenting campaign to maximize the company’s resources, implement prudent fiscal policies and carry out efforts aimed at improving Casino Filipino’s gaming facilities.
Naguiat said that the ultimate goal was to transform the casinos from being mere gaming centers into wholesome recreation and entertainment centers for local and foreign tourists alike.
“Competition has opened our eyes to the reality that we have to keep improving our operations for our casinos to survive. And we are going toward that direction,” he noted.
Although Pagcor’s corporate nature limits it from investing in massive renovations, Naguiat said that his management team was exploring cost-efficient means of upgrading gaming equipment and facilities, as well as entertainment offerings.
“We are definitely moving forward. We will continue to think of innovative ways on how to further increase our revenues so that we can help our government more in its nation-building efforts. For instance, one major Corporate Social Responsibility project of Pagcor is the P1-billion funding for the “Matuwid na Daan sa Silid Aralan Project” in partnership with the Department of Education for the construction of 1,000 classrooms nationwide,” he added.
Pagcor has significantly reduced operating expenses since July 2010.
“Since last year, we have consistently been saving millions of pesos from operational costs. Last June alone, we were able to reduce operating expenses by 5.87 percent. This translates to a P70.3-million savings versus 2010 figures,” Naguiat said in a statement.
Records also showed that Pagcor had saved about P943 million during the first six months of 2011.
Meanwhile, from July 2010 to June 2011, the agency has already generated total savings of P2.005 billion.
With higher revenues and bigger savings, Pagcor was able to substantially increase its contributions to the national government.
For June 2011, its remittances to the National Treasury, the Bureau of Internal Revenue (BIR) and the Philippine Sports Commission (PSC) amounted to P1.136 billion, up by almost P102 million compared to the June 2010 remittances amounting to P1.033 billion.
Pagcor also remitted P303 million to the President’s Social Fund, the Board of Claims, host cities and the socio-civic projects of the government for June.
Its total contributions to the National Treasury, BIR and PSC from January to June 2011 reached P6.35 billion.
This was higher by P386 million than the P5.97 billion contributions to the three entities during the same period last year.
Best restaurant in Pampanga unveils new line of seafood dishes for the summer, paired nicely with lighter bodied white wine, red wine and Champagne from the famous wine cellars of Yats Restaurant and Wine Bar in Clark Philippines.
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Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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