Congress' bicameral committee allotted P5 billion for the country's hosting of the 30th Southeast Asian Games this November, slashing the proposed P7.5 billion fund by the Philippine Southeast Asian Games Committee (Phisgoc) by a third, yet still a third more than enough to ensure its success, according to several event partners.

But Phisgoc chairman Alan Peter Cayetano was not exultant, saying the reduction from their original proposal of P9 billion will greatly affect the quality of the country's hosting of the biggest SEA Games ever.

In a media conference yesterday, Cayetano said they have no choice but to look for fund elsewhere as the 4.5 billion reduction — or 50 percent of their initial proposal — will hamper their blueprint of a massive hosting following international standards.

After a proposal of P9 billion before the Department of Budget and Management, the House of Representatives slashed it to P7.5 billion.

Then, the Senate decided to lodge the fund from Cayetano's Department of Foreign Affairs (DFA) to the Philippine Sports Commission (PSC), which has the mandate to organize and fund the country's participation in major international tournaments.

Cayetano had since resigned as DFA Secretary.

After a two-month delay, the bicameral committee formally approved the SEA Games budget of P5 billion and immediately transmitted it to President Rodrigo Duterte for his signature. The budget will be available next month.

"If the reduction is just 10 to 20 percent, we can easily scale down. But with 33 percent (of 7.5 billion), it's really hard," Cayetano said, adding that organizing 523 events in 56 sports that will be held in 39 venues puts them in a difficult position.

"As much as possible, we want to have a level of hosting that is at par with the international standards from the security, to broadcast to venues and sports. I think around P6 billion will do."

Cayetano said they are looking to raise at least P1 billion to augment the budget. They are now selling sponsorship packages with the highest amounting to $3 million, or roughly P156.3 million.

Daily Tribune sources revealed Phisgoc's plan included a show to feature international star Bruno Mars to perform during the opening ceremonies to match or surpass the Super Bowl halftime features.

The Grammy Award-winning artist, who was born to a Puerto Rican father and a Filipina mother, reportedly has a price tag amounting to $1 million per performance or $250,000 per song.

Phisgoc executives are also receiving a total salary of P7.2 million a month, a document obtained by Daily Tribune showed.

Deputy Speaker Prospero Pichay said a budget of P5 billion is "more than enough" for the country to ensure a very smooth and successful SEA Games hosting.

Pichay, a long-time member of the Philippine Olympic Committee who was the prime moved behind the decision to lodge the fund under the care of PSC, claimed PSC chairman William "Butch" Ramirez had said the agency can operate the biennial meet even with a budget of only P2 billion.

The last time the country hosted the Games in 2005, the government spent only P300 million while First Gentleman Miguel Arroyo managed to raise an additional P150 million from the private sector for buffer fund.

With a budget of P500 million, the country managed to successfully host the SEA Games and emerge as overall champion.

"P5 billion will be more than enough if managed properly," said Pichay, who is also the president of the chess association.

"In 2005, we had a budget of P500 million but we managed to successfully pull it off. I think we can have a good hosting even with P2 billion. It's going to be enough if the PSC will manage it in accordance to the CoA (Commission on Audit) rules and regulations."

Ramirez, meanwhile, said the Philippine Olympic Committee and the Phisgoc can help boost the national athletes' campaign to win the overall championship again with the amount of government support the SEA Games hosting is about to receive.