Economy

PCSO remits P2.5B to Treasury 

PHILSTAR FILE PHOTO

THE PHILIPPINE Charity Sweepstakes Office (PCSO)on Monday said it had remitted P2.5 billion to the National Treasury to boost the country’s universal healthcare law.  

The money that will be allotted to the Philippine Health Insurance Corp. (PhilHealth) came from revenues from gaming operations including small town lottery games, PCSO General Manager Melquiades A. Robles told a news briefing. 

“This is just the first among the remittances that we will do because, under the law, 40% of our charity fund will have to go to universal health care,” he said.  

Under the law, 40% of the agency’s charity fund and half of the National Government’s share from the income of the Philippine Amusement and Gaming Corp. must be used to fund universal health care.  

The law, which automatically enrolls Filipinos in state insurer PhilHealth, seeks to give Filipinos access to different medical services. It mandates PhilHealth to cover consultation fees, laboratory tests and other diagnostic services. — Kyle Aristophere T. Atienza 

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Your email address will not be published.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