POC, PSC"bare SEAG debts down to P15M

Philippine Olympic Committee president Peping Cojuangco and Philippine Sports Commission chairman Butch Ramirez will try to find ways on how to expedite the payment of the remaining debts related to the country’s hosting of the 2005 SEA Games.

Cojuangco was president of the Philippine SEA Games Organizing Committee (Philsoc), which reportedly left a trail of debts, now down to P15 million, to private firms and individuals who provided their services for the multi-nation event staged in Manila and other provinces.

Some creditors are reportedly up in arms because of the delay in payment for their services more than a year after the SEA Games, which was considered a huge success due to the fact that the Philippines emerged as the overall champion.

The debts reached as high as P170 million. But Philsoc and the PSC struck a deal shortly after the SEA Games that the government sports agency will be the one to settle the obligations in exchange for the P100 million sports equipment which Philsoc purchased for the Games.

Ramirez said by the time the deal was made, the debts were already down to P30 million. And over the last few months, it has been reduced to P15 million.

"If only the creditors can clear their papers, we can pay them in a month or two. The problem with some of them is the lack of clear papers representing the amount they are trying to settle," said the PSC chairman yesterday.

Ramirez said he will sit down with Cojuangco and other Philsoc officials.

Among the services provided by these creditors are in transportation, communication, catering, hotels and even hospitals. Thousands of volunteers also received allowances during the 10-day event.

"If only they can show the proper papers, they will be paid. We’re attending to this matter," said Cojuangco.

Philsoc secretary-general Steve Hontiveros blasted some of the creditors for using the media to put pressure on Philsoc or the PSC to pay up.

"We don’t even know who’s asking for what. How can we act on it when you (creditors) speak before the media and ask not to be identified?" said Hontiveros.