Sen. Risa: GSIS invested in Online Gambling

In a privilege speech delivered by Senator Risa Hontiveros, she revealed that the Government Service Insurance System or GSIS invested in the online gambling platform DigiPlus.

“GSIS got into this when Digiplus shares were being offered at a peak of P65.30. Those shares have since dropped to a low of P13.68. That’s a loss! In the first place, what was GSIS thinking, investing funds in online gambling?” said by Sen. Risa

“Why is GSIS investing the retirement money of public servants to seemingly expand the e-gaming industry? We need explanations”. Added by Sen. Hontiveros

Hontiveros called the decision of the investment of the current GSIS leadership as “reckless and questionable”.

The Senator has assured that the Senate, House of Representatives, and Malacañang takes the matter seriously.

“As of now, we in the Senate, along with the House of Representatives and even Malacañang, are all taking strong initiatives and firm stands against online gambling because of its harmful social costs.” she said.

“We should strengthen GSIS’s investment policy compliance and oversight. We should increase transparency and accountability in their investments. And we should plug policy gaps and clarify ambiguities”. Said the Senator as she seeks a swift action and to review the policies, procedures, and guidelines governing GSIS’s investment decisions.

Senators such as Juan Miguel Zubiri and Joel Villanueva, also called for a total ban on online gambling in the Philippines, citing its harmful impact on society.

However, President Ferdinand “Bongbong” Marcos Jr. did not mention the issue in his fourth State of the Nation Address last July 28. In a statement, it was later clarified that the President has been “closely monitoring the situation”.