PRESIDENT Ferdinand Marcos Jr., will personally present the cash incentives to more than 500 medalled national athletes on July 20 at the Malacañang Palace, recognizing their outstanding achievements at the 32nd Southeast Asian Games and 12th ASEAN Para Games 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 chairman Richard Bachmann.
The PSC will be releasing about P60 million and P14 million in cash bonuses for 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 with gold medal finish will receive P300,000, silver medal finish with P150,000, and bronze medal finish with P60,000 at the SEA Games level. Meanwhile, gold, silver, and bronze medalists from the ASEAN Para Games level 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 Corporation (PAGCOR), to be remitted to the National Sports Development Fund (NSDF) 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. Bong Go, House Committee on Youth and Sports Chairman Rep. Faustino Dy III, and Philippine Olympic Committee president Mayor Abraham Tolentino, and other sports executives and officials.
During the biennial meets in Cambodia, Team Philippines placed 5th in the SEAG bagging 58 gold, 85 silver and 117 bronze medals. In the APG, the country delivered a record-breaking performance with 34 gold, 33 silver and 50 bronze medals.