What KasKasan Buddies Changed About How Filipinos Handle Money

KasKasan Buddies has helped make money conversations less intimidating by giving Filipinos a space to ask questions, share experiences, and learn without judgment.

JEG Tower Switches To COREnergy To Power Cebu’s Business Community

JEG Tower partners with COREnergy to power Cebu’s business community through more strategic and stable energy management.

From Credit Card Hacks To A Movement: How KasKasan Buddies Grew Into A Financial Literacy Community

KasKasan Buddies grew from credit card conversations into a two-million-member community helping Filipinos navigate financial literacy, digital safety, and smarter money decisions.

Monde Nissin Reports Record First Half Core Net Income Attributable To Shareholders Of PHP5.5 Bn, An Increase Of 16.1%

Monde Nissin reports stronger first-half earnings as revenue growth, margin gains, and disciplined cost management support its performance.

Velasco Wants To Expedite Purchase Of Covid-19 Vaccines

Speaker Lord Allan Velasco files a proposal fastening the Covid-19 vaccine procurement process.

Velasco Wants To Expedite Purchase Of Covid-19 Vaccines

39
39

How do you feel about this story?

Express Your Reaction
Like
Love
Haha
Wow
Sad
Angry

A measure seeking to expedite the purchase and administration of coronavirus disease 2019 (Covid-19) vaccines by authorizing local government units (LGUs) to directly purchase the life-saving shots in the most economical and expeditious manner has been filed at the House of Representatives.

Speaker Lord Allan Velasco filed on Feb. 8 House Bill 8648, or the proposed Emergency Vaccine Procurement Act of 2021.

The measure provides exemptions to compliance by LGUs with the procurement requirements under Republic Act 9184 or the Government Procurement Reform Act in the purchase of Covid-19 vaccines and other much-needed supplies during the pandemic.

“The next crucible in the fight against the Covid-19 pandemic is the speedy procurement and effective administration of vaccines against the deadly disease,” Velasco said. “Time is of the essence. Each day of delay is very costly for the government, and leaves many of our vulnerable countrymen exposed to the dangers of this disease.”

He said the vaccination process is crucial in the fight against Covid-19 as it would help the country attain herd immunity and return to normal.

The bill proposes to waive the requirement of Phase IV trials for Covid-19 medication and vaccine stipulated in the Universal Health Care Law to expedite the procurement of said medication and vaccine.

The vaccines, however, should be recommended and approved by the World Health Organization and other internationally recognized health agencies.

The bill seeks to allow the concerned LGUs to engage in an advance payment mechanism for purposes of procuring Covid-119 vaccines from foreign manufacturers.

The advance payment should not exceed 50 percent of the contract amount for the procurement of Covid-19 drugs and vaccines.

Following the advance payment for the supply of vaccines, the foreign manufacturer, in consideration of its agreement with the concerned LGU, shall undertake to deliver the supply of vaccines within six months from the perfection of the contract.

Another important feature of the bill is the creation and administration of an indemnification fund for the adverse events following immunization (AEFI).

The procurement, importation, storage, transport, distribution, and administration of Covid-19 vaccines by the local government units shall be exempt from customs duties, value-added tax, excise tax, and other fees, provided, that the vaccines acquired shall only be used for their residents and constituents, and not for commercial distribution. (PNA)