No liquidation, no Asiad cash

C) will stand pat on its decision to hold funds for the country’s participation in the coming Asian Games in Jakarta unless the Philippine Olympic Committee (POC) liquidates its past expenses fully.

This decision comes after chief of mission Richard Gomez asked President Duterte’s intervention in the fund deadlock that is hampering preparations for the 18th Asian Games firing off August 18-September 2.

Commissioner Ramon Fernandez yesterday said Gomez is free to seek any help as long as the POC would be accountable to the Commission on Audit (CoA) if it fails to liquidate its expenses anew.

Liquidation – or the lack it – is the reason for the PSC’s refusal to release the P72-million budget for the country’s participation in the Asian Games.

The money, however, was not spent by the new POC leadership under president Victorico Vargas of boxing. The amount was used to purchase tracksuits and uniforms for the athletes who competed in the 2017 SEA Games in Kuala Lumpur, when the POC was still led by Jose ‘Peping’ Cojuangco.

But POC president Jose “Peping” Cojuangco admitted they could no longer liquidate the P10.3-million after they discovered the purchase of the uniforms and tracksuits was reeking with irregularities.

The POC tried to return the amount, but the PSC sent it back saying that it needed a full liquidation report as required by the CoA.

And with that, the CoA advised the PSC to withhold funding until a liquidation report has been filed by the POC.

The P6.5-million budget for the country’s hosting of the Southeast Asian Games Federation council meeting last month was the order’s first casualty.

Vargas used personal funds to ensure the event pushed through.

With the Asian Games just two months away, Gomez said he’s willing to appeal before the President for the fund to be released.

“It’s okay. He can do whatever he wants,” said Fernandez, who is reportedly set to be appointed as acting PSC chairman in the absence of suspended PSC boss William “Butch” Ramirez.

“For as long as they will agree than they will be accountable to CoA and the Filipino people if they fail to liquidate again, we’re fine with it,” the former basketball icon added.

Stated on Rule VII, Sec. 3 of the Republic Act 6847, or the law that created the PSC in 1990, grant of financial assistance “is not allowed unless the requesting party, organization or NSA (national sport association), has fully submitted a liquidation report for previously granted financial assistance.”

The law also states that financial assistance is a privilege that can be suspended or denied, depending on the availability of fund or by discretion of the board of commissioners.

Fernandez said they are just implementing the law.

“We’re making a stand. Public fund is involved and we have to protect it,” said Fernandez, adding that he also shares the same stand with Ramirez and the entire board of commissioners composed of Celia Kiram, Charles Maxey and Arnold Agustin.

“We’re just implementing the law, especially that of the Commission on Audit.”

Gomez is set to sit down with PSC executive director and chief accountant Merlita Ibay early next week to discuss the issue.