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PCSO turns over P82.1M to CHED for Q1

MANILA – The Philippine Charity Sweepstakes Office (PCSO) has turned over more than PHP82 million to the Commission on Higher Education (CHED) for the first quarter of 2023.

"Bilang pagsunod sa aming mandato, nakapagbigay kami ng PHP82,176,035 sa CHED para sa kanilang pondo na gagamitin sa pagpapabuti ng ating mga higher learning institutions sa bansa (As our mandate, we have turned over PHP82.18 million to CHED for the improvement of higher learning institutions in the country)," PCSO chairman Junie Cua said in a news release on Monday.

"We have already informed President Ferdinand E. Marcos Jr. about our contribution, which I hope the administration can use to improve our higher learning institutions," he said.

Republic Act No. 7722, or the Higher Education Act of 1994, mandates that the charity agency contribute part of its revenue for the Higher Education Development Fund (HEDF), which would be used to strengthen higher education in the country.

The PCSO is required to provide a contribution equivalent to 1 percent of the gross sales of the lotto operation.

Cua said that with the first quarter contribution, the PCSO is on track to match or even exceed the amount released for the HEDF in 2022.

The agency's HEDF contribution last year amounted to PHP266,457,014.

"Naniniwala tayong matatapatan o mahihigitan pa natin ang naibigay natin sa CHED sa nakaraang taon (We are confident that we can equal or surpass what we gave to CHED last year)," Cua said.

Cua also underscored the importance of the HEDF amid challenges to learning that have been exposed during the coronavirus disease 2019 (Covid-19) pandemic.

"We realize how important the PCSO's role is in ensuring that our higher learning institutions stay up to the task of educating our youth, which in turn is crucial in our nation's development," he said.

"This recognition of our role motivates us to work harder so that the Filipino youth can have a brighter future," he added. (PR)

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