PCSO remits P7M to City

CEBU, Philippines - The Philippine Charity Sweepstakes Office (PCSO) yesterday remitted to the Cebu City Government a check worth P7 million which represents the City’s share in the gross receipt of PCSO.

The P7 million covers the five-percent share of the local government units from PCSO’s gross sale from lotto tickets for the months of July to December last year.

Under Executive Order No. 357, setting aside of 30 percent of its net receipts from the lotto operations as a charity fund is mandated. Some five percent of the 30 percent is granted to the local government units.

LGUs, in turn, shall use the fund for the maintenance of hospitals and for other health, social welfare and charitable works in their respective areas.

Visayas-Mindanao PCSO General Manager William Medici said that the share of Cebu City from the sale of lotto outlets operating here has increased by 26 percent compared to the share they received in 2009.

PCSO has remitted a total of P12,898,573.11 last year while in 2009, the city received P10,585,913.00.

This means that the city has some P2 million in additional funds that it can use for health programs.

“This P2 million can already help a lot of city residents needing health assistance,” Medici said.

PCSO remits the LGUs’ five percent share by semester or every six months.

Medici said that the city’s share for this year’s first semester will be remitted in July or August. It is also expected to increase because the sales from lotto tickets continue to increase.

Currently, Cebu has the highest sales in the whole Visayas and Mindanao. — (FREEMAN)