Gov't does not need to rely on POGO revenue: Balisacan
The government's economic team is confident that the country does not need to rely on the revenue coming from Philippine Offshore Gaming Operators (POGOs) following the recommendation of the Senate to ban them here.
This was announced by National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan in a Palace briefing on Thursday.
"Look at Thailand, look at Indonesia, look at all these other countries around us, they don’t depend on those you know, kinds of businesses," he said.
Balisacan said the economic managers support the Senate report recommending the permanent ban of POGOs.
"Yeah, we have been moving around in many countries, cities, attracting investment to the country; marketing our country as a good place to do business. We are not going around to attract business of this kind ‘no. We want investment inflows that will promote not only the economic but also the social aspects of our development," he said.
Balisacan said the ''social costs'' of POGO are ''quite high''. Based on its data from 2017 to Sept. 30, 2022, the Philippine National Police recorded 99 Pogo-related criminal activities, which includes kidnap-for-ransom, cybercrimes, human trafficking and serious illegal detention.
"We don’t think that the benefits in terms of the revenues generated ...So I think that what we want to encourage are very legitimate, you know, that’s legitimate investments, good investments... those investments that will produce goods and services and not ones that promote negative externalities to society such as those alleged crimes and related issues," he added. Robina Asido/DMS
