InterAksyon.com
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MANILA, Philippnes -- Malacañang has lauded anew the latest record-high P3.72-billion gross income posted by the Philippine Amusement and Gaming Corporation (PAGCOR) for May 2012 that would allow the government to apportion more funds for its nation-building programs. In her regular weekend briefing over dzRB Radyo ng Bayan Sunday, Deputy Presidential Spokesperson Abigail Valte said this is already the third time that PAGCOR posted a new revenue record breaking its previous highs of P3.56 billion in February and P3.67 billion in March. Valte said this is significant because PAGCOR’s earnings would eventually be funneled towards the different agencies and programs of government. The National Treasury, which is entitled to 50 percent of the government share from PAGCOR’s gross income, will get P1.12 billion out of the P3.72 billion, while the President’s Social Fund will have the same P200-million share. The Philippine Sports Commission will have a share of P56 million to fund the country’s programs and P40 million will go to PAGCOR’s casino host cities for their community development programs. P70 million will be used for social civic programs while the remaining P6.64 million will go to the Board of Claims to help victims of injustice. Valte also announced that the country garnered some US$ 850 million in its cumulative net foreign direct investment inflows for the first quarter of 2012, which is 72.4 percent higher than the US$ 493 million net inflows it has posted for the same period last year. She, moreover, stated that the United States government has already waived the US$ 23-million debt by the Philippines in exchange of green projects like planting trees as part of its debt-for-nature swap program. She said this assistance was apart from the US$ 30-million that will be donated by the U.S. government under the Partnership for Growth Program that supports the Aquino administration’s agenda to alleviate poverty in the country. These developments were among the results of President Benigno S. Aquino III’s successful official working visit to the U.S. just recently.
Wrapping up the good news she had for the week, Valte mentioned that the country’s coconut oil outbound shipment volume increased to 70,600 metric tons in May this year compared to the 58,753 metric tons it had in the same period last year.
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