 BusinEss. Finance chief says P20B needed to vaccinate teens vs. COVID-19

DA targets to gain over 440K hog breeders by 2023

MANILA (Mabuhay) — The Department of Agriculture (DA) is eyeing to produce 440,563 hog breeders by 2023.

DA Secretary William Dar also announced in a press briefing on Wednesday that the estimated total output of the hog breeders will be 142 percent which is more than enough to offset the recorded 332,928 breeders lost due to the African swine fever (ASF) outbreak. "By the end of the implementation of INSPIRE (Integrated National Swine Production Initiatives for Recovery and Expansion) Program in 2023, we will recover the more than three million hogs lost because of ASF," he said.

INSPIRE is a three-year repopulation program of the DA which starts this year. The DA has partnered with the private sector to guarantee a bigger production.

From the government-initiated breeder farms, there will be a total of 225,103 hog breeders that will be produced while private-led initiatives will produce 215,460 breeders.

With a combined budget of PHP29.6 billion, INSPIRE and its concurrent program "Bantay ASF sa Barangay" (BABay ASF) aims to address the industry's problem.

Recent data from the Philippine Statistics Authority showed that the value of agricultural production, at constant 2018 prices, showed a -3.3 percent drop in the first quarter of 2021.

Livestock production, which shared 14.2 percent in the total agricultural output, contracted a -23.2 percent.

Dar has already vouched for a rebound in the livestock sector through the current repopulation and awareness programs of the DA.

This as President Rodrigo Duterte signed on Monday the declaration of state of calamity in the country due to ASF.

Presidential Proclamation No. 1143 which will be in effect for a year will enable a whole of nation approach to solve ASF.

The local government units will be able to utilize its standby fund and law enforcers can keep watch on the retail prices, among others. (MNS)

Finance chief says P20B needed to vaccinate teens vs. COVID-19

MANILA (Mabuhay) — The Philippine government would need about P20 billion to inoculate the country’s younger population against the coronavirus disease 2019 (COVID-19), Finance Secretary Carlos Dominguez III said Thursday.

“About P20 billion for approximately 15 million teenagers,” Dominguez said in a text message.

Dominguez's estimation came after reports that US regulators have authorized Pfizer and BioNTech's COVID-19 vaccine for use on children as young as 12.

Pfizer is also seeking British approval for the use of its COVID-19 vaccine among 12 to 15-year-olds in submitting its data to the health regulator. Under the 2021 General Appropriations Act, al Appropriations Act, the Philippine governthe Philippine govern-

FINANCE SEC. CARLOS DOMINGUEZ III

ment has allotted P82.5 billion for mass vaccination program that aims to cover around 55% of the country's population.

For its anti-COVID vaccination program, the government is targeting 50 to 70 million Filipinos, but the age bracket is 18 and above.

Adolescents and children have been excluded since available COVID-19 vaccines area only allowed for use in the country is mainly for adults ages 18 years old and above, as because clinical trials have not involved children yet.

On top of the P20 billion estimated for teenagers’ vaccination, around P55 billion is also need to purchase booster shots “likely for next year,” Dominguez said.

Late in April, vaccine czar Secretary Carlito Galvez Jr. said the Philippine government is considering to purchase Moderna’s booster shots for COVID-19.

“We found out that Moderna is developing a booster. ‘Yung booster na 'yun, puwedeng gamitin kahit na Sinovac o kahit na Gamaleya ang ating nauna"(The booster could be used even for Sinovac and Gamaleya vaccines), Galvez said during a congressional hearing.

Pressed on how the government would raise the the money, Dominguez said it is “still to be determined.”

Of the country’s P82.5-billion budget for vaccination, P12.5 billion will be sourced from the COVID-19 vaccination program allocation under Republic Act (RA)

No. 11494 or the Bayanihan To Recover As One Act or Bayanihan 2. And, the remaining P70 billion will be sourced from loans provided by multilateral lenders, the Philippines’ bilateral partners, and/or the domestic market. (MNS)

1 percent of 7M:

PH fi rms to get 70,000 Moderna vaccines by June — Razon

MANILA (Mabuhay) — Port magnate Enrique Razon on Thursday said the private sector would receive some 70,000 COVID-19 vaccines from Moderna next month, which account for only 1 percent of the total 7 million vaccines conglomerates have ordered from the pharmaceutical giant.

Moderna said the vaccines would arrive by the week of June 21, Razon said. "As soon as it arrives, we want to start inoculation right away," he said.

The private sector has already paid $93 million (P4.45 billion) for these vaccines, he said. "The government will have to pay more because the government's order is 13 million [jabs]," he said.

The Philippines earlier allowed private firms to enter into a tripartite agreement so that they could procure vaccines for their respective employees.

Last month, National Task Force Against COVID-19 chief implementer Carlito Galvez Jr. said that the Philippines would get 194,000 doses of Moderna's jab this month.

Razon did not say why the number of initial doses from Moderna was reduced, and why the delivery date was pushed back.

Companies who have bought vaccines will also have to prioritize giving the shots to the elderly and persons with comorbidities, Razon said. "The companies part of the consortium will vaccinate their employees following those priorities," he said.

Razon, whose group is building a mega vaccination hub in Parañaque, said he hopes to procure more vaccines by the end of the year. "I think supply won't be as tight anymore then," he said. "By the end of the year, the country will have to buy booster shots," he added.

Several conglomerates are willing to spend millions for these vaccines, Razon said.

Every time Metro Manila and Calabarzon are placed on a lockdown, "the economy is losing about P16-17 billion a day," he said. "The cost of vaccines is immaterial compared to the loss in the economy. That's why we need to ramp up vaccination," he said. "It's really opening the economy to get back to growth, and we cannot open the economy under these circumstances where the pandemic is still raging," he said.

The Philippines hopes to inoculate between 50 million and 70 million Filipinos to achieve herd immunity this year.

So far, only 500,000 have received 2 doses of COVID-19 vaccines, while another 2 million have been inoculated with the initial dose. (MNS)

House leader eyes approval of economic Charter reforms by June

MANILA (Mabuhay) — The House of Representatives aims to pass on final reading the resolution proposing amendments to economic provisions in the Constitution before Congress adjourns sine die on June 4, a House leader said on Monday.

AKO BICOL Party-List Rep. Alfredo Garbin Jr., the chairperson of the House Committee on Constitutional Amendments, said Resolution of Both Houses (RBH) No. 2 would be put to a vote on third reading before the sine die adjournment. "Tapusin bago mag sine die adjournment (This should be passed before the sine die adjournment). Meaning it will be subject to a vote on third reading bago mag adjourn (before [Congress] adjourns)," Garbin said.

The RBH 2 has already been sponsored in the House plenary in February, which signaled the start of the plenary deliberations on the measure.

Garbin noted that only around seven lawmakers are left on the list to interpellate on the measure.

Albay Rep. Joey Salceda, a principal sponsor of the resolution, said that the House has no intention of introducing political provisions to the proposed revisions, stressing that RBH 2 is a "pure economic reform".

“We know and understand that any political charter change will be dead on arrival,” Salceda said.

Salceda cited a study from the Organisation for Economic Cooperation and Development (OECD) which outlined top investment barriers, three of which are present in the Philippines because of the economic restrictions in the Constitution.

Salceda said these barriers include “foreign ownership restrictions in the law, stipulations on management, such as regulations that nationals or residents must form a majority of the board of directors, and nationality-based restrictions on operations.”

Salceda also cited that the Philippines is the most foreign direct investment (FDI)-restrictive country in the Association of Southeast Asian Nations (ASEAN).

“We have the most doors closed of any ASEAN country. And we expect visitors to come. This makes no economic or logical sense,” Salceda said.

“We need investments to come. So, what makes sense is to open the doors that we can,” Salceda added.

According to the 2019 OECD FDI restrictiveness index, the Philippines has the highest restrictiveness score of any country in the Asean region.

“The Philippines has locked itself out of significant foreign investments, and therefore job creation. We have spent hundreds of billions of pesos in foregone revenue for tax incentives when we have not tried a simpler, cheaper solution: opening industries in need of capital to foreign investment through legislative action. Instead of sending our labor force abroad, let us attract foreign investment and create the jobs here in the Philippines,” Salceda said.

On February 2, the House Committee on Constitutional Amendments had voted 64-3-3 to adopt RBH 2.

The proposal, which is principally authored by Speaker Lord Allan Velasco, aims to amend certain economic provisions of the Charter, particularly Articles XII (National Patrimony and Economy), XIV (Education, Science, Technology, Arts, Culture, and Sports), and XVI (General Provisions).

It seeks to insert the phrase “unless otherwise provided by law” to several sections of the Constitution that restrict foreign ownership of public utilities, educational institutions, media, and advertising. (MNS)