Nov 142013
 
Aerial shot of the province of which was heavily damaged by super typhoon Yolanda (MNS photo)

Aerial shot of the province of which was heavily damaged by super typhoon Yolanda (MNS photo)

MANILA (Mabuhay) – President Benigno Aquino III on Saturday evening reassured the public that government has enough funds to help those affected by Super Typhoon Yolanda (Haiyan).

The President said the funds include some P16 billion in savings, P6 billion from the President’s Social Fund, and P1 billion from the calamity and contingency funds.

And yung sa reconstruction phase naman (As for the reconstruction phase), most of that would occur next year wherein the new budget hopefully will have been approved and there will be new funding for the rehabilitation,” he said after getting a briefing on the situation at the National Disaster Risk Reduction and Management Council headquarters in Camp Aguinaldo.

On the other hand, the President said the government can draw from the Quick Response Funds of agencies such as the Departments of Public Works and Highways (DPWH) and Social Welfare and Development (DSWD).

He noted that the bulk of the DPWH’s work for now is clearing roads.

At isama ko na rin pala. Sinasabi ng DOST, DENR, na parang itong event na ‘Yolanda’ ay tapos na,” he added.

Meanwhile the President reiterated that the government’s priority now is to restore power and communications to affected areas.

He said the DPWH will clear roads to facilitate relief efforts, while the DSWD and agencies like the National Food Authority go full blast in repacking operations.

For their part, the military’s C-130 planes and seacraft are going all-out in bringing relief goods to affected areas.

The President also cited the Armed Forces of the Philippines for conducting aerial surveys despite dangerous weather conditions.

He said the Department of Science and Technology had said the weather at the time was dangerous, especially for helicopters.

“But, to the credit more of our men in uniform, and the Air Force helicopters have been flying, conducting aerial surveys and also delivering relief to areas that are presently inaccessible,” the President said. (MNS)

Aug 082013
 
Pagcor sees revenues rising to P45.47B in ‘14

MANILA, Philippines – The Philippine Amusement and Gaming Corp. (Pagcor) sees its gross revenues rising to P45.47 billion in 2014 from the projected P42.9 billion this year, largely due to the opening of the first integrated resort in Entertainment City as well as improving operations of existing casinos. Pagcor president and chief operating officer Jorge Sarmiento said the state gaming regulator remains bullish on the local gaming industry’s prospects given significant contributions from Solaire, which turned in a net profit of P22.7 million in the second quarter, a reversal of the P126.9 million loss incurred in the same period last year. In the first half, Pagcor generated a net income of P1.4 billion or just five percent shy of its P1.476 billion target for the period. Revenues amounted to P21.06 billion, slightly lower than the P21.32 billion recorded in the same period in 2012.  The amount, however, exceeded the state-run gaming regulator’s revenue goal of P20.97 billion during the period. The government’s share from Pagcor’s revenues amounted to P6.97 billion. Under RA 7656, Pagcor is mandated to remit at least 50 percent of its annual revenue to the government. Pagcor likewise contributed P1.345 billion to the Office of the President’s Social Fund. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Revenues from gaming operations reached P14.73 billion or 3.17 percent higher than agency’s target. Income from other related services, on the other hand, amounted to P5.7 billion while other income stood at P636.22 million. Pagcor expects to remit around Read More …