QUI 13 DE DEZEMBRO DE 2018 - 17:13hs.

New council to oversee PAGCOR privatisation

Philippine Finance Secretary, Carlos Dominguez, has confirmed that a new council will be formed to oversee the technicalities in the sale of PAGCOR-owned casinos. It will be made up from executives from the Office of the President (OP), the DOF, the Department of Justice, the Department of Budget and Management and the Governance Commission for Government-Owned and Controlled Corporations.

The government of the Philippines recently announced its plans to place the foundations of a new council which is going to serve the purpose of monitoring the privatization of the casinos which were previously operated by the Philippine Amusement and Gaming Corp. (PAGCOR).

This announcement was made by the Finance Secretary Carlos Dominguez from the Department of Finance, who said that the new team is going to take care of the logistics of the privatization process of the said gambling venues.

Even though there is an already existing Privatization Management Office in the country, the officials consider PAGCOR a more specific case which demands a new team of experts which would oversee the process of privatization. This will give them the opportunity to focus on the issue in particular and guarantee the smooth transition while providing their technical skills.

Dominguez said: ““We have a Privatisation Management Office, but PAGCOR is a special case. It is the licenses that we are privatising. Its more technical. Quite frankly, we admit it’s more technical than what the PMO can handle.”

Source: GMB