PCSO saves P688.9-M due to fiscal discipline

Manila, Philippines - Tight fiscal discipline and control over the funds and resources of the Philippine Charity Sweepstakes Office (PCSO) has yielded a record P688.9 million in savings for the agency which are being maximized for the welfare of the poor.

According to PCSO chairperson Margie Juico, savings were realized in the following areas:

• P14.868 million savings in annual expense due to the transfer of PCSO offices from Quezon Institute (QI) to the PICC Complex. These consist of P6-million savings due to office rental as it is now paying P1.9 million monthly instead of P2.4 million, P2.869-million annual savings on water bills and P6 million annual savings on electric bills;

• P324-million annual savings in the purchase of lotto papers. Renegotiations with suppliers in lowering the prices of these items had saved the agency P27- million monthly;

• P350 million annual savings in PR/advertising budget with the reduction of the P900 million budget in year 2010 to P550 million for this year, it also negotiated for 25 percent discount on payments for past accounts.

The new board has also limited the use of the PCSO Endowment Fund assistance to government hospitals, health facilities, and institutions only for health and welfare-related activities excluding payment for wages, utilities and other incidentals to ensure that the assistance is used for the health, medical and welfare needs of poor patients.

The agency is also monitoring a case pending with the Court of Tax Appeals for non-payment of documentary stamps since 2008 amounting to P296 million. It is estimated that including penalty and charges, the unpaid amount could balloon to P777 million.

To maximize employee efficiency, the PCSO will launch shortly a rationalization plan aimed at highly professionalizing the services of the agency to the poor.

“To be sure, there are still many tasks to do, both arduous and challenging. But committed to help our poor, we will strive to do our best and aspire for excellence in our services,” Juico added.