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Marcos to award cash incentives on July 20

(UPDATE) PRESIDENT Ferdinand Marcos Jr. will lead the distribution of cash incentives to more than 500 national athletes on July 20 at the Malacañang Palace in recognition to their outstanding achievements at the 32nd Southeast Asian Games (SEAG) and 12th Asean Para Games (APG) held recently in Cambodia.


“We are grateful for President Marcos' decision to personally award the incentives to Team Philippines, an expression of his admiration to our national athletes and their unwavering passion and dedication for representing the country,” said Philippine Sports Commission (PSC) chairman Richard Bachmann.

The PSC will be releasing about P60 million and P14 million in cash bonuses for the SEAG and APG medalists, respectively, as provided for by Republic Act 10699, or the “Expanded National Athletes and Coaches Incentives and Benefits Act.”

Under the law, national athletes who won gold medals will receive P300,000, silver medal finish with P150,000, and bronze medal finish with P60,000 at the SEAG level.

The gold, silver, and bronze medalists from the APG level, on the other hand, are entitled to receive incentives worth P150,000, P75,000, and P30,000, respectively.

Funding for these cash bonuses from the government is taken from the net cash income of the Philippine Amusement and Gaming Corp., to be remitted to the National Sports Development Fund of the PSC.

“In the past, the PSC conducted two separate awarding for SEAG and APG medalists, but I believe it is more fitting to join the two for the President's first-ever incentives awarding during his administration,” added the sports agency chief, who will be joining the awarding at the Palace together with the PSC board of commissioners.

Also invited to grace the ceremony are Executive Secretary Lucas Bersamin, Senate Committee on Sports chairman Sen. Christopher Lawrence “Bong” Go, House Committee on Youth and Sports chairman Isabela Fifth District Rep. Faustino Dy 3rd, and Philippine Olympic Committee president Abraham Tolentino, among others.

The Philippines placed 5th in the SEAG with 58 golds, 85 silvers and 117 bronzes.

In the APG, the country delivered a record-breaking performance of 34 golds, 33 silvers and 50 bronzes.

Credit belongs to : www.manilatimes.net

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