MANILA – The government will be assisting Filipino workers displaced by President Ferdinand “Bongbong” Marcos Jr.’s total Philippine Offshore Gaming Operators (POGO) ban directive in finding new employment.
According to Department of Finance (DOF) secretary Ralph Recto, his agency will work closely with the Department of Labor and Employment (DOLE) to help affected Filipino workers.
“We have until the end of the year to ensure that all displaced Filipino workers will have new jobs and I think that is more than enough time,” Recto said in a statement on Tuesday.
He added: “The DOF will work closely with the DOLE to ensure that the workers’ incomes will not be severely disrupted and that we provide them with proper reskilling and upskilling training for new employment.”
During his 3rd State of the Nation Address on Monday afternoon, President Marcos announced the prohibition on all POGO in the country effective immediately.
According to the Chief Executive, POGO operations had ventured into illicit areas such as financial scamming, money laundering, prostitutions, human trafficking, kidnapping, torture, and murder.
“The grave abuse and disrespect to our system and laws must stop. Kailangan na itigil ang panggulo nito sa ating lipunan at paglalapastangan sa ating bansa,” President Marcos said.
“Effective today, all POGOs are banned. I hereby instruct PAGCOR to wind down and cease all operations of POGOs by the end of the year,” he added.
Recto said he earlier submitted a cost-benefit analysis that recommended the prohibition of POGO operations due to reputational risks and social costs.
The DOF estimates showed that the net cost of Pogo operations amounts to P99.52 billion annually while the estimated total economic benefits reach P166.49 billion per year.
“As I have recommended to the President, POGOs come with significant reputational risks and we have seen the negative impacts and destruction they have caused to our country because of crimes. Banning them won’t significantly affect the economy because the costs of keeping them far outweigh the benefits,” Recto said./PN
