POGO ban won’t leave big economic dent
SHUTTERING Philippine Offshore Gaming Operators (POGOs) will not leave a big dent in the country’s economy as the government tries to run after these outfits and wind down their operations by the end of the year, according the Interior and Local Government secretary.
“I think other revenue enhancing measures of the Department of Finance will make up for this (closing down POGOs),” Interior and Local Government Secretary Juanito Victo C. Remulla, Jr. told a Palace briefing on Wednesday.
“As per the National Economic Development Authority, 0.25 of 1% of the total gross domestic product will be affected (by the closure), we don’t see a significant dent in our economy.”
Mr. Remulla said his agency will go after underground or “guerilla” POGO companies as the administration tries to shutter all of these by the end of the year.
Philippine President Ferdinand R. Marcos, Jr. earlier issued an executive order ordering the ban of POGOs due to their links to organized crime such as human trafficking.
Philippine Amusement and Gaming Corp. Chairman and Chief Executive Officer Alejandro H. Tengco told a forum on Tuesday that the government was on track to shut down POGO firms by year-end.
“As per the President’s instructions, we will make it very difficult for them until they say that is no longer worth operating in the Philippines,” Mr. Remulla said. — John Victor D. Ordoñez
