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Manila Bulletin devider Philippines devider JV Ejercito didn't sign Senate report on POGO immediate shutdown, explains why

JV Ejercito didn't sign Senate report on POGO immediate shutdown, explains why

Published Mar 23, 2023 10:45 am
Senator Joseph Victor “JV” Ejercito on Thursday, March 23 said he did not sign the committee report submitted by the Senate Committee on Ways and Means since it calls for an “abrupt” closure of all Philippine Offshore Gaming Operations (POGOs) in the country.

Ejercito explained immediately banning the operations of POGOs could send the wrong message to investors keen on doing business in the Philippines. 

“I am not pro-POGO, but I am concerned of the repercussions of cancelling the industry which Congress made legal,” Ejercito said. 

The senator explained that while the operations of these offshore online gaming industry had been deemed illegal, Congress still passed the law taxing POGOs that eventually regarded their operations legitimate and subject to tax. 

Republic Act No. 11590, also known as An Act Taxing Philippine Offshore Gaming Operations was signed in Sept. 22, 2021 by then President Rodrigo Duterte. 

“POGO was illegal, (then) Congress passed a law to make it legal. Then investors came and invested for the industry. Then we want to cancel abruptly,” he pointed out.

“That would send a bad signal and image to the international business community of the consistency of (Philippine) laws and policies,” Ejercito said.

Ejercito said he proposed a graduated phaseout period for POGOs so it would not affect the country’s business climate.

“I wanted a two to three year phaseout period so as not to affect the international business’ perception,” he said.

Sen. Sherwin Gatchalian, chairman of the ways and means panel, on Wednesday night reported out his “Chairman’s report” on POGO and recommended an immediate ban on their operations.

It became a chairman’s report, and not a committee report, after it failed to get the signature of the majority of the members of the panel.

As of this writing, Senators who signed the report are Senate Majority Leader Joel Villanueva, Senate Minority Leader Aquilino Pimentel Jr., Risa Hontiveros and Grace Poe. 

Senators Jinggoy Estrada and Imee Marcos have yet to sign the report.

On the other hand, Sen. Ronald “Bato” Dela Rosa said he made a commitment to the panel chairman that he will sign the report.

The Bangko Sentral ng Pilipinas (BSP) recently reported that the net inflows of foreign direct investments (FDI) into the Philippines dropped by 23 percent from US$12 billion in 2021 to US$9.2 billion in 2022. 

In December 2022 alone net inflows fell by 76 percent from US$2.7-billion in December 2021 to US$634-million in the same period last year.
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