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P10 B eyed from STL operations

access_time 18-01-2017, 07:28 chat_bubble_outline 167 views

The government expects to raise over P10 billion this year from the expanded operations of small town lottery (STL), Justice Secretary Vitaliano Aguirre II said yesterday.

Aguirre said a new policy imposing higher remittances on accredited STL operators would be implemented starting Feb. 1.

He said the government would increase the presumptive monthly retail receipts (PMRR) or quota of collections that were set to only 10 to 15 percent of the total revenue during the previous administration.

“When PMRR was imposed last year, the government was able to collect P4.7 billion. This year, we are projecting that the figure will more than double,” Aguirre said.

He said the PMRR would depend on the response of the public to STL. He said the numbers game is more popular in Bulacan, Laguna and Quezon.

Under the new guidelines, STL operators would be given minimum target collections to be remitted to the Philippine Charity Sweepstakes Office (PCSO) every month.

Aguirre said the 18 existing STL operators and 56 others to be accredited by PCSO would also be required to post a bond equivalent to the PMRR in their respective areas.

STL operators will be required to pay a non-refundable fee of P15 million as well as an application fee of P50,000 to the PCSO, he added.

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