Economy

Bachmann thanks senators in backing PSC budget increase bid













THE PHILIPPINE Sports Commission (PSC) is getting a boost from the Senate in the government agency’s bid to secure P3.7 billion in funding for the complete rehabilitation of the decades-old Rizal Memorial Sports Complex.

In the PSC’s corner with supportive arguments are Sen. Christopher ‘Bong’ Go, chairman of the Senate Committee on Sports; Sen. Juan Edgardo ‘Sonny’ Angara, chairman of the Committee on Finance; and Sen. Pia Cayetano, chairperson of the Committee on Sustainable Development Goals, Innovation and Futures Thinking.

“We are thankful to Senator Go and the esteemed members of the Senate for rallying behind the PSC’s pursuit of budget increase for 2024. We look forward to elevating our athletes to new heights with this support,” said PSC Chairman Richard Bachmann.

Also the vice chairman of the Senate Committee on Finance, Sen. Go expressed his concern at the disparity between the proposed budget for the PSC from the Department of Budget and Management (DBM) compared to the overall appropriations for the entire national budget, pointing out DBM only approved P200 million for the sports body for 2024, a mere 0.004% of the proposed national budget.

Sen. Go questioned the reason given behind such low allocation considering the significant role of sports in nation-building and the high expectations placed on Filipino athletes in international competitions.

The successful hosting of the 2023 FIBA Basketball World Cup in promoting the country’s image internationally cannot be overemphasized enough, Sen. Go said, making it imperative for the government to rethink the low priority with which it regards sports, in general, and athletes, in particular.

The senator also bared that the National Sports Development Fund, primarily sourced from the Philippine Amusement and Gaming Corp. (PAGCOR), remains insufficient for the needs of the athletes and the rehabilitation of aging sports facilities, like the Rizal Memorial Sports Complex, which opened to the public in 1934.

Sen. Angara, a staunch supporter of increased sports funding, expressed hope for the DBM to also give more consideration to the sports sector in future budgets, while lauding Sen. Go’s strong advocacy for the sports sector.

Lending her voice to the strong stand of her Senate colleagues, Sen. Cayetano stressed the value of sports in nation-building and the potential impact on youth development. She also emphasized the importance of tracking the benefits of sports engagement in preventing drug addiction and fostering national unity, as evidenced during international competitions.

“Sports play a vital role in nation-building. With our athletes given the necessary support, the betterment of Philippine sports is within reach,” concluded Mr. Bachmann, thanking the Senate as it submitted the PSC budget for plenary approval on Tuesday, Nov. 14.

CEDadiantiTyClea




Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top