“Today, there are a lot of POGOs that are not really POGOs because they are doing something else. But we generalize and call all of them POGOs,” he said. MANILA, Philippines — Finance Secretary Ralph Recto is not opposing the calls to ban Philippine offshore gaming operator firms as the sector gets the spotlight anew because of embattled Bamban Mayor Alice Guo.
Senators recently resumed their calls for President Marcos to ban POGOs amid the industry’s threat to national security and ties to organized crime. “There is some truth to that so let us study it carefully. I also have to consult with PAGCOR , but as I said, in Batangas there are no POGOs and we are doing well,” Recto said.
It was estimated that the industry’s contribution to gross domestic product continued to be negligible and remained at around 0.2 percent last year. PAGCOR, on the other hand, disagreed with the ban on POGOs in the country, saying that shutting down the industry is not the appropriate response to the challenges of the sector.
Last year, it increased the authorized capital stock requirement to P100 million from at least P15 million before in a bid to weed out fly-by-night companies which pose as legal POGOs and then conduct illegal activities on the side.BDO, SM launch Kabayan Tuesday para sa overseas Filipino families with Piolo PascualThinking of smarter buys? Here are 6 tech recos you can score this 6.
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