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Manila Bulletin devider Business devider GCG revisits plan splitting Pagcor's functions

GCG revisits plan splitting Pagcor's functions

Published Oct 16, 2022 05:00 pm

The Governance Commission for Government Owned or Controlled Corporations (GCG) wants to revisit its earlier recommendation separating the commercial and regulatory functions of the Philippine Amusement and Gaming Corp. (Pagcor).

Alex L. Quiroz, GCG chairperson said the position of the body may not be the same under the new leadership when it comes to Pagcor’s perceived conflicting functions as the government’s gaming regular and operator.

The 2018 GCG recommendation is currently being reviewed, but Quiroz said the final decision whether to privatize Pagcor’s casino operations will still depend on President Marcos.

“At this point, since it is under evaluation, let’s avoid any prejudgment to the outcome,” Quiroz told reporters. “But everything will only be recommendatory and subject to approval of OP . We do not want preempt the OP.”

In April 2018, GCG had recommended to former Duterte the separation of Pagcor’s two functions.

“GCG has recommended to President Rodrigo Roa Duterte for separation of commercial and regulatory functions due to its conflicting proprietary activities and regulatory functions in which its operation of casinos conflicts with its function as a gaming regulator,” GCG had said.

Last August, Finance Secretary Benjamin E. Diokno said the Marcos administration will be aggressive in its privatization program and first on its list the Pagcor.

Diokno said the sale of Pagcor’s gaming assets is among the options being considered by the Marcos administration to raise additional revenues.

“Pagcor’s new leadership will have to make know their plans moving forward. They should resolve the seemingly conflicting roles as an operator and regulator,” Diokno said.

“The new leadership should consider the worthiness of their move appropriate to their role,” he added.

This is not the first time that the DOF considered to put Pagcor’s gaming assets on the auction block.

Former Finance Secretary Carlos G. Dominguez III had attempted to privatize 17 Casino Filipino centers owned by Pagcor in 2018. This plan, however, did not proceed.

Pagcor, the government’s third largest revenue generating agency, had supported the planned sale, but also warned that the government would lose P24 billion annually after the disposal of its commercial activities.

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