MANILA, Philippines—The Philippine Sports Commission has found a way to force national sports associations to immediately settle their financial obligations.
PSC chair Richie Garcia said officials of NSAs getting financial assistance will be made to sign an agreement that allows the PSC to seize their assets and properties for failing to liquidate the expenses within a prescribed period.
PSC chair Richie Garcia said officials of NSAs getting financial assistance will be made to sign an agreement that allows the PSC to seize their assets and properties for failing to liquidate the expenses within a prescribed period.
“If the official who signed the agreement fails to liquidate, we will hold him personally liable,” said Garcia, noting that the issue of liquidation by NSAs has long been taken for granted.
“The repercussion includes taking his house, car or other assets depending on the amount he asked for.”
Without naming the delinquent NSAs, Garcia said the unsettled debts have already breached the P20-million mark.
During the time of PSC chair William “Butch” Ramirez, the debts reached a high of P80 million before Ramirez and the previous administration of Harry Angping were able to trim down the deficit to P20 million.
“I have yet to check which of the NSAs have the biggest unsettled financial obligation,” said Garcia.
The PSC has asked the Commission on Audit to provide a clear-cut policy on how to absolve NSA officials
burdened by the unsettled debts of their predecessors.
Garcia pointed out that the liquidation woes have prevented the agency from granting financial requests of the NSAs.
The PSC has been adopting a “no liquidation, no financial assistance” policy, forcing the NSAs to look for financial assistance elsewhere to sustain their programs and foreign exposure.
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