Chiz urges PSC to use funds wisely | Inquirer News

Chiz urges PSC to use funds wisely

/ 07:38 AM January 29, 2013

MAXIMIZING the Philippine Sports Commission’s savings of half a billion could spell the difference in the country’s bid to end a medal drought in the Olympics three years from now in Rio de Janeiro.

Following the PSC’s announcement of surplus from its corporate funds, Sen. Francis “Chiz” Escudero yesterday urged the agency to spend the money wisely with the buildup to the Olympics in mind.


PSC Chairman Ricardo “Richie” Garcia offered bulk of the savings to national sports associations (NSAs) which could present viable programs that would ensure medal victories in the Southeast Asian Games, Asian Games and the Olympics.

But Escudero warned of unnecessary expenses and said the PSC should look beyond the SE|A Games in Myanmar, where events that the Philippines are fancied to rule may not be included in the calendar.


“This is the first time that the PSC is claiming savings of as much as this, half-a-billion pesos that does not need to be returned to the national treasury as it was saved from the agency’s corporate funds,” Escudero said.  “Any savings is always a good news. Spending these savings wisely and effectively would make better news.”

The lawmaker pushed for more allocation to priority sports to revive the country’s hope of winning what could be a  very first Olympic gold medal. The Philippines has not won an Olympic  medal since boxer Mansueto “Onyok” Velasco settled for a silver in the 1996 Games in Atlanta. /Inquirer

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TAGS: Francis Chiz Escudero, Philippine Sports Commission (PSC), sports events
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