Duterte also said the money will also help increase the salaries of doctors in a move that would keep the ‘best of the best’ in the country instead of seeking employment in foreign lands.
The yacht, known as BRP Ang Pangulo costs the Philippine government 400,000 pesos a month to maintain.
This is not the first time the yacht was put up for sale, After President Cory Aquino took office in 1986, she listed the presidential ship for sale at $5.5 million dollars, however it failed to find a buyer.
Ironically, Duterte will follow in the footsteps of Cory Aquino by eliminating lavish and extravagant items known to be given or used by presidents of the Philippines.
During the reign of Philippines President Joseph Estrada the yacht was refitted, and extensively furnished. Estrada used the ship for numerous presidential events and his trip to Mindanao after he took office in 1998.
In 2006 the ship caught fire while undergoing repairs. After being repaired and refurbished from the fire, President Gloria Macapagal Arroyo renamed the yacht, the BRP Pag-Asa.
Once President Benigno Aquino came into office, he restored the name to BRP Ang Pangulo. He is also said to have ordered the ship to augment the capabilities of the Philippine Navy.
The ship was originally built in 1959 with a gross tonnage of 2,200. Officially it can accommodate 44 guests and has an overall length of 77.3 meters.
The ship takes on a full time crew of 81 personnel when operational. It has a cruising speed of 15 knots, and maxes out at 18 knots with a range of 6,900 nautical miles.