Lawmaker wants 10% of PAGCOR generated funds to finance SUCs
SAN JUAN Rep.Joseph Victor Ejercito is proposing that a portion of the funds generated by PAGCOR be utilized to finance the State universities and colleges.
Ejercito (Lone District, San Juan City), author of House Bill 6465, said “10 percent of the PAGCOR’s gross income should be set aside as financial support to the State universities and colleges.”
The lawmaker said the proposal is prompted by a recent study which showed only 8 to 10 of every 100 pupils who enter basic education will get a college education.
“I wish these data were wrong. This is indeed an upsetting situation which must be addressed immediately,” Ejercito said.
“This situation prompted the heads of state colleges and universities to beg from the kind benevolence of lawmakers who have the heart for education. These heads are even using fund-raising schemes courtesy of
their faculty, alumni and student bodies just to stay afloat – year after year,” Ejercito said.
The proposed bill seeks to amend Section 12 of Presidential Decree 1869, is now under consideration by the Committee on Games and Amusement, chaired by Rep. Amado Bagatsing (5th District, Manila).
The proposal will be included in Section 12 of PD 1869, which reads that “after deducting five percent as franchise tax, the 50% share of the government in the aggregate gross earnings of the corporation from
this franchise, or 60% if the aggregate gross earnings be less than P150,000,000, shall immediately be set aside and shall accrue to the General Fund to finance the priority infrastructure development projects and to finance the restoration of damage or destroyed facilities due to calamities, as may be directed or authorized by the Office of the President of the Philippines.”
“As more and more young people waste away in the slums, streets and sweatshops, the country suffers from an intellectual and moral drain,” Ejercito said.
Ejercito noted that since the Arroyo administration, there is a downward trend in terms of State subsidy to public tertiary education.
“The lack of educational opportunities for young people is truly one of the worst tragedies that we witness,” Ejercito said.