She said costs including addiction, family breakdown and health risks are measurable and should form part of investment assessments.<\/p>\n\n\n\n
\u201cGSIS\u2019s investments, and the processes that govern them, should be transparent, efficient, and must clearly delineate responsibility and accountability. The funds of GSIS are not just ordinary corporate capital \u2014 they are the product of the hard work of government employees, intended to prepare for their retirement. We need to strengthen transparency and accountability in GSIS\u2019s use of public employees\u2019 funds,\u201d she said.<\/p>\n\n\n\n
\u201cGSIS president Wick Veloso<\/strong> described these investments, such as DigiPlus, as \u201ccalculated risk.\u201d I wonder whether this \u201ccalculated risk\u201d took into account the alarming and horrific social cost of online gambling on our countrymen,\u201d the senator added.\u00a0<\/p>\n\n\n\n She said there is a need to review laws and policies relating to GSIS\u2019s investment operations. \u201cThe rules must clearly stipulate that the hard-earned money of public servants be invested only in safe, stable, and humane ways,\u201d she said: \u201cThe pensions of our public servants are not gambling chips to be tossed or spent recklessly. The trust our public employees place in GSIS should be repaid with integrity and transparency \u2014 not dubious and rash investments.\u201d<\/p>\n\n\n\n Veloso said the agency considered DigiPlus to be a legal and listed corporation under the Philippine Stock Exchange. \u201cWe can see that this qualifies under the three points of our management: profitability, safety, and liquidity. So we saw that it meets the requirements<\/strong>, and that\u2019s why we invested,\u201d Veloso said.<\/p>\n\n\n\n Senator Mark Villar<\/strong>, chair of the committee, called for more diligent evaluation of the wider impacts of investments.<\/p>\n\n\n![\"\"](\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2021\/04\/Japan-doubts-on-casino-returns-at-the-IR-panel-300x200.jpg\")
<\/p>\n