Manoling morato was questioned about a tie up contract worth P50 billion lasting for 50 years for the TMA thermal tickets for PCSO. Manoling explained that the contract was leagal and approved by the NEDA because of the benefits that the government would gain. He added that the contract includes a 50 year term for TMA to produce the thermal tickets for PCSO that would give 20% commission on every ticket they sell abroad and would also build their own P3billion plant here in the Philippines at no cost to PCSO. He also explained further that they chose TMA because they are the leading company to produce the best thermal tickets and that the said prints would last up to a year unlike other thermal paper prints that would only last up to 3 months. Blah blah blah…
Who in the right mind would sign a tie up for 50 years with a printing firm that would worth P50 billion??? There was not even a proper bidding for the contract. 50 years is a long time and I’m sure that if they don’t have any contract with TMA, some other firm will come and offer a better and cheaper product which would make them save a lot. For a piece of paper one would hold on to for a month at most, once the game is over, it goes to trash. So much for the P50 billion they spent for the contract. This is what they did before, and this is what Margie Juico it trying to fix right now.
Juico was able to increase the PCSO earnings of P6.8 billion last year to P7.6 billion and even generated P134.9 million extra earning than the 38.1 million PCSO had previously. The STL, KENO and Lotto also had a tremendous increase on sales since Juico took over. This first quarter alone, PCSO helped 32,824 indigent patients of out-patient charity clinics at QC hall, PCSO office at San Marcelino and Our Lady of Peace Hospital. Juico used these earnings to pay for the deficit of PCSO with the BIR. The said unpaid account was P1.2 billion and they were able to pay P2.9 Billion to cover the debt. She even brought down the advertising expenses to P500 million than of the 1.7 billion last years and was able to cut down their expenses on office rental of P2.4 million down to P1.9 million.
Juico is getting hammered because of these changes. Why? Because if you try to fix the problem, there would be less commission for those taking advantage of the poorly managed system. So much so that they will drag you down and make you look bad to take you out of position. If this wont change, then I guess there is no questioning what will happen next. Were digging our own graves if we won’t act now. If were being lead by these kind of people, we have no chance to recover…
Who in the right mind would sign a tie up for 50 years with a printing firm that would worth P50 billion??? There was not even a proper bidding for the contract. 50 years is a long time and I’m sure that if they don’t have any contract with TMA, some other firm will come and offer a better and cheaper product which would make them save a lot. For a piece of paper one would hold on to for a month at most, once the game is over, it goes to trash. So much for the P50 billion they spent for the contract. This is what they did before, and this is what Margie Juico it trying to fix right now.
Juico was able to increase the PCSO earnings of P6.8 billion last year to P7.6 billion and even generated P134.9 million extra earning than the 38.1 million PCSO had previously. The STL, KENO and Lotto also had a tremendous increase on sales since Juico took over. This first quarter alone, PCSO helped 32,824 indigent patients of out-patient charity clinics at QC hall, PCSO office at San Marcelino and Our Lady of Peace Hospital. Juico used these earnings to pay for the deficit of PCSO with the BIR. The said unpaid account was P1.2 billion and they were able to pay P2.9 Billion to cover the debt. She even brought down the advertising expenses to P500 million than of the 1.7 billion last years and was able to cut down their expenses on office rental of P2.4 million down to P1.9 million.
Juico is getting hammered because of these changes. Why? Because if you try to fix the problem, there would be less commission for those taking advantage of the poorly managed system. So much so that they will drag you down and make you look bad to take you out of position. If this wont change, then I guess there is no questioning what will happen next. Were digging our own graves if we won’t act now. If were being lead by these kind of people, we have no chance to recover…
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