Vargas, Peping welcome Senate inquiry

MANILA, Philippines - Boxing chief Ricky Vargas and Philippine Olympic Committee president Peping Cojuangco both welcomed the Senate’s planned inquiry on the raging issues on the POC election and alleged unliquidated funding besetting the POC.

“We would welcome a Senate probe on POC issues as it highlights two important reasons why Ricky Vargas is presenting an alternative leadership: Greater transparency and accountability,” Vargas’ spokesman Chito Salud said.

Speaking in the POC on Air radio program, Cojuangco said: “Mas maganda kung magkaroon ng Senate hearing, doon magkaalaman dahil harapan na at malaman kung sino’ng nagsasalita nang tama (A Senate hearing would be a good venue to face each other and find out who’s telling the truth).” 

Last Wednesday, Sen. Sonny Angara filed a resolution seeking to direct the committee on sports chaired by Sen. Manny Pacquiao to conduct an inquiry on the reported P129.6 million in funding the POC received from the Philippine Sports Commission from 2010-2016 that allegedly it has yet to fully liquidate. 

“We believe that it should be fairly easy for the POC to account for the public money it received from the PSC. What would be puzzling is if these funds have indeed remained unliquidated over the years,” said Vargas. 

“The POC should publicly disclose how and where the money was utilized. And it should do so without further delay to allay growing concerns regarding non- transparency in its financial transactions. Basic norms of good governance demand this,” he added. 

Cojuangco and POC treasurer Julian Camacho maintained every centavo is accounted for. 

Peping Cojuangco

“They can check the records,” said Camacho, adding that the POC has even been getting help from SGV in keeping their books in order. 

According to Camacho, the funding from the PSC represented the cash advances the POC requested on behalf of the national sports associations (NSAs) to fast-track its release for use generally in overseas campaigns. 

“Kami ang nag-advance (POC advanced it from the PSC) and the financial assistance was released through us. Pero lahat ng pera natanggap na ng NSA ay may vouchers (The funding has since been released to the NSAs and they have their corresponding vouchers),” said Camacho. 

Angara also wants to tackle what he described as “the unjust imposition of eligibility requirements for candidates for POC president, thereby limiting the participation of other members.”

He was referring to the disqualification of Vargas, whom the POC election committee declared ineligible to challenge Cojuangco for not being an “active member of general assembly meetings the last two years. Vargas had disputed the interpretation of the term and is preparing to go to court and get a TRO to fight for his rights to run in the Nov. 25 polls and offer his platform of change and restoration of pride in Phl sports.

Cojuangco defended the “active membership” requirement, saying the provision is designed to make sure that the president or chairman who will be elected “knows everything that’s happening in the POC, not just his sport.”