THE National Economic and Development Authority (NEDA) said it would personally recommend the banning of Philippine Offshore Gaming Operators (POGOs) from the country to President Ferdinand Marcos Jr.
It is important to promote businesses that support moral and social development, given that POGOs have been linked to crimes and other issues, said NEDA secretary Arsenio Balisacan.
He added that the social costs were “high” compared to the revenues POGOs provide.
“It is an appreciation of what the long term benefits are versus the cost. Our position at NEDA which we have submitted some time ago… the cost especially, social costs are quite high,” Balisacan told Palace reporters on Thursday, Sept. 21.
He added: “We don’t think that the benefits in terms of the revenues generated and the additional… and the impact and the economy are worth the cost. So, I think that what we want to encourage are very… legitimate investments, good investments, quality investments.”
The NEDA chief also said that those investments must produce goods and services, and not the ones that supposedly “promote negative externalities to society such as those alleged crimes or and related issues.”
Aside from this, Balisacan said whatever revenues that would be lost from POGOs would be gained from other investments.
“Look at Thailand. Look at Indonesia. All these other countries around us they don’t depend on those kind of businesses,” he said.
At least 10 senators have signed the Senate Committee on Ways and Means’ report recommending the “immediate expulsion” of POGOs from the country, over six months since the report was finalized.
Under the committee report, the Senate urged the executive department to “cease the operations of POGOs.” (ABS-CBN News)
