Pacquiao to probe Philippine Olympic Committee on International Olympic Committee ‘Yolanda’ fund

February 06, 2019
Manny Pacquiao
Manny Pacquiao

SENATOR Manny Pacquiao has asked the Senate to investigate officials of the Philippine Olympic Committee (POC) in connection with the US$450,000 donation from the International Olympic Committee (IOC) supposedly to fund sports facilities after typhoon Yolanda.

In his Senate Resolution 1007, Pacquiao said that it is important to know where the fund went and how it was spent by the officials of POC considering the need for sports facilities in the country.

Tasked to investigate the issue is the Senate Committee on Sports which Pacquiao chairs which will look at the origin of the donation, how it was used and the disbursement of the fund the IOC granted POC in 2013.

Supposedly, the donation would be used to construct sports facilities and multi-purpose gymnasiums in Leyte and Southern Leyte which was devastated by the typhoon.

Pacquiao revealed that around US$300,000 was already spent by POC while there is still a remaining $150,000.

“Although such fund is private in nature, it is imbued with public interest since it involves rehabilitation of public facilities and the participation of the government in its disbursement,” Pacquiao explained.

The senator will require POC to submit to the committee and to the IOC its financial report on how the donation was spent.

“The POC has to submit a formal financial report to the IOC to be able to receive the third tranche. Therefore it is subject to the oversight function of the Senate to ensure its transparent accounting,” Pacquiao said.