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ABAP clears up liquidation issue
PhilBoxing.com
Mon, 31 Mar 2014
The Association of Boxing Alliances in the Philippines (ABAP) wishes to clarify the issue of ?unliquidated advances? that came out in the media recently.
Last year (2013) ABAP requested Financial Assistance from the Philippine Sports Commission for the purchase of equipment needed for, among others, the national boxers? preparations for the Southeast Asian Games in December.
At that time however, ABAP had already purchased several equipment for local and international tournaments.
PSC released P1.5M for the purchase of equipment on December 20, 2013. ABAP had by then already made several purchases for SEA Games preparations as well as for local and international competitions for the year.
After December 20, ABAP also placed orders for additional equipment. Since the said equipment had to be sourced from abroad, it was only delivered last month.
ABAP executive director Ed Picson conferred with his PSC counterpart, Atty Guillermo Iroy, Jr. Monday to seek clarification on the process of liquidation.
ABAP president Ricky Vargas clarified that since this is the first time in five years that the boxing association sought help from the PSC in the matter of equipment, Picson had to make sure about what could be applied for liquidation.
?We have spent a lot more for equipment in the five years that we have been in ABAP but since the PSC offered the hand of partnership, we accepted it. We just wanted to make sure that our liquidation adhered to PSC rules. We have no intention of destroying our track record of ZERO UNLIQUIDATED ADVANCES to PSC prior to December 20, 2013. This matter should be settled in the next few days.?, Vargas said.
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