Pacquiao seeks inquiry on IOC cash grant to POC
Credit to Author: BERNADETTE E. TAMAYO| Date: Mon, 04 Feb 2019 19:02:35 +0000
SEN. Emmanuel “Manny” Pacquiao wants the Philippine Olympic Committee to account for the reported $450,000 grant that the International Olympic Committee (IOC) gave to the Philippines through the POC.
The senator, chairman of the Senate Committee on Sports, filed on January 31 Resolution 1007, directing the appropriate committee to conduct an inquiry on the “origin, use and disbursement” of the IOC grant.
He said the IOC donated the amount in 2013 for the construction of sports facilities in areas damaged byTyphoon Yolanda which ravaged the Visayas region in November 2013.
It was earmarked to build multi-purpose gyms in Leyte and Southern Leyte pegged at about P4 million for each facility.
Pacquiao said POC officials “should offer a formal explanation regarding the alleged questionable implementation of the said projects.”
“There is a need to review and audit POC books to guarantee that said funds were used for the intended projects,” he said.
A total of $300,000 was already disbursed in two tranches, leaving a balance of $150,000.
“Although such fund is private in nature, it is imbued with public interest since it involves rehabilitation of public facilities and the participation of the government in its disbursement,” he said.
He said the POC must “submit a formal financial report to the IOC to be able to receive the third tranche.”
“Therefore, it is subject to the oversight function of the Senate to ensure its transparent accounting,” Pacquiao said.
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