Pagcor allots P1B for building of 1,000 classrooms

MANILA, Philippines—The Philippine Amusement and Gaming Corp. (Pagcor) has allocated P1 billion for the construction of 1,000 classrooms in public elementary and secondary schools nationwide, the agency’s biggest project so far.

The project, dubbed “Matuwid na Landas sa Silid-Aralan,” is in partnership with the Department of Education (DepEd), Pagcor chairman and chief executive officer Cristino Naguiat Jr. said in a statement on Thursday.

Naguiat said they would also tap the help of non-government organizations to construct the classrooms compliant with DepEd’s standards and specifications.

He said it was Pagcor’s “biggest project ever,” the agency’s contribution to President Benigno Aquino III’s national program to improve the quality of education in the country.

“All of our contributions have been mandated by laws. One major project of Pagcor that was not required by law was only for the P100 million funding for the construction of the Manila City Hall of Justice in 2000 and 2002,” Naguiat pointed out.

“Through this undertaking, we hope to help our government in addressing the perennial problem of classroom shortage in the Philippines. We hope to have all 1,000 classrooms completed and become operational next school year in communities where they are most needed,” he said.

Naguiat said the agency’s funding for the project was made possible by its robust performance during the first five months of 2011 and huge savings in operating expenses since July 2010. Its revenues last month amounted to a record P3.03 billion.

“From January to May this year alone, we were able to reduce our opex by P873 million,” he said.