Solon urges probe on Pagcor, PCSO ad spending

A member of the House of Representatives is urging other lawmakers to probe the advertising spending of state-controlled firms Philippine Amusement and Gaming Corp. and the Philippine Charity Sweepstakes Office. Lone Catanduanes Rep. Joseph Santiago questioned over the weekend Pagcor and PCSO's multimillion peso ad spending, saying these are unecessary since state-owned casino and online lottery operators, respectively are virtual monopolies that have no local competitors to speak of. Santiago said the ad spending by both firms is "visibly aggressive and extravagant." "This is something that should be promptly looked into by the appropriate congressional committees, if only to ensure the more prudent use of public funds," Santiago stressed. "Both Pagcor and PCSO are obviously wasting a lot of badly needed financial resources on promotional spending," Santiago said. Pagcor is the country's third most profitable corporation and government's third biggest revenue generator. Last year, Pagcor posted a total income of P25.4 billion, the firm's highest ever in its 23-year history. Santiago said Pagcor is believed to be allocating at least P1.25 billion annually for "advertising, marketing and public relations." This is based on a conservative budget equal to five percent of the firm's yearly income. "We are dealing here with staggering sums that could be better spent to directly subsidize more community hospitals and patients, or to boldly support basic as well as higher education in the provinces," Santiago added. - GMANews.TV