SEN. Sherwin Gatchalian said the economy will not collapse if the Philippine offshore gaming operators (POGOs) cease their operation in the Philippines.

The senator on Monday led the fourth public hearing on the three Senate resolutions seeking to probe the economic impact of the POGO industry in the country.

The chairman of the Committee on Ways and Means said he was preparing the panel’s report on the result of the inquiry.

“In a nutshell without disclosing so much, because the committee report will spell that out, if POGOs go our economy will not collapse. It will remain strong as ever,” he said in a briefing.

However, the government will have to assist around 16,000 Filipino workers who might be displaced if POGOs cease their operations. “But I believe we can provide them jobs,” the senator said.

Gatchalian said the real estate will recover if POGOs no longer exist. He noted that apartment, condominium and office rentals soared at the height of POGO operation.

During the hearing, officials of the Philippine Amusement and Gaming Corp. (Pagcor) were asked why they still allow POGO operators involved in crimes to continue operating in the country.

Jessa Mariz Fernandez, Pagcor Offshore Gaming Licensing Department assistant vice president, said that the agency imposed penalties and demerits to erring POGO operators, with one company slapped with a $10,000 (or P500,000) fine.

Sen. Ronald “Bato” dela Rosa urged Pagcor officials to revoke the licenses of erring POGOs.

He informed the committee that the abduction of a Filipina in Pasay City by certain online gambling operators had been resolved and three Chinese had been jailed.

Dela Rosa urged the victim to file criminal charges against her kidnappers. He said the suspects were only charged with illegal possession of firearms.