MANILA, Philippines - It will rain cash when President Arroyo meets the Filipino athletes in Malacañang and hands over their bonuses for winning the medals in the recent Southeast Asian Games in Laos.
The awarding of the cash incentives totalling P11.2 million will take place on Jan. 13 at the Heroes’ Hall.
Under Republic Act 9064, each gold in the SEA Games is worth P100,000, silver P50,000 and bronze P10,000. But for the 38 gold medalists, it will be much more than that, courtesy of the Philippine Sports Commission and the private sector.
Chairman Harry Angping of the PSC handed over P100,000 each to all the gold medal winners during a Christmas party last Dec. 22 and in Malacanang will hand over another P100,000 each from the private sector.
Angping said the extra money was raised through the help of Tagaytay Highlands, Pacific Online, Discovery Suites and Hapee Toothpaste.
“It’s ready,” said Angping of the total cash incentives.
The biggest winners are swimmer Miguel Molina and cue artist Rubilen Amit who won two individual golds each worth a total of P600,000 as well as the five boxing gold medalists who got an extra P300,000 each from their chief patron, Smart and PLDT chairman Manny V. Pangilinan.
Angping said the President wanted to hand out the incentives today but it was moved to next week even if the Philippine Amusements and Gaming Corp., the source of the funds, was ready to release them as early as Dec. 23.
“The thing was most of the athletes had gone home to their respective provinces after our Christmas party, bringing with them the P100,000 bonus from the PSC. On Jan. 13 they will get everything,” said Angping.