Senator Bong Go on Thursday lauded the private sector and local government units for their initiatives in procuring Covid-19 vaccines for their employees and residents.

Go lauds private sector, LGU initiatives to secure Covid-19 vaccines

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Senator Bong Go on Thursday lauded the private sector and local government units for their initiatives in procuring Covid-19 vaccines for their employees and residents.

The chair of the Senate health panel virtually attended the signing of a Memorandum of Agreement between the Philippine government, participating local government units, private sector donors, and drug firm AstraZeneca for the procurement of seventeen million doses of Covid-19 vaccines.

The private sector had pledged to donate 2.6 million doses from AstraZeneca through the “A Dose of Hope” program last November. A similar deal has been signed to secure an additional 14.4 million doses for the country. The first batch of doses is expected to arrive by July.

“Napakahalaga ng papel ng bakuna sa ating recovery mula sa kasalukuyang pandemya. Ito po ang magiging susi upang makabalik ang pamumuhay natin sa normal,” Go said.

“Kaya naman, napakalaking bagay ng ceremonial signing na magaganap ngayong araw dahil opisyal na nitong uumpisahan ang ating pagbangon mula sa Covid-19,” the senator said in his video message.

He also praised the combined efforts of the national government, LGUs, and private sector for delivering a timely and effective national vaccination program for Filipinos. He stressed the importance of a whole-of-nation approach in addressing the challenges of the pandemic and uplifting the lives of the people.

“This is a true showcase of how the Philippine government and private groups can unite in protecting its people against the pandemic,” Go said.

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POLITIKO / Across the Nation

POLITIKO / Latest News

House panel OKs 10-year extension requiring banks to loan funds to MSMEs

By Billy Begas

The House Committees on Appropriation and on Micro, Small, and Medium Enterprise Development have approved the measure seeking to extend for 10 years the law mandating banks to allocate 10 percent of its loanable funds to Micro, Small and Medium Enterprises (MSMEs).

The still unnumbered measure, authored by Deputy Speaker Bro. Eddie Villanueva and CIBAC Rep. Domingo Rivera seeks to amend the Magna Carta for Small Enterprises (Republic Act 6577).

Under the law, all lending institutions are mandated to set aside at least eight percent for Micro and Small Enterprises and at least two percent for Medium Enterprises their total loan portfolio. The provision lapsed in 2018.

Villanueva said based on data from the Bangko Sentral ng Pilipinas, as of March 2019, banks allocate a meager 2.72 percent of their loan portfolio to micro and small enterprises and 4.19 percent to medium enterprises.

“We owe our MSME sector a great deal. This bill is for them; karapat-dapat sila. It is only apt that we invest in them by ensuring availability of access to credit and government assistance and programs. They are our economy’s unsung heroes, comprising 99% of firms in our economy,” said Villanueva.

Other significant provisions of the proposals are as follows:

– National Government shall allocate at least 10% of its procurement needs to eligible MSMEs;

– Entitlement of registered MSMEs to 20% discount on shipping, delivery fees, mailing, freight, and other similar services for products and raw materials provided by either public or private

– 20% of total rentable spaces of private malls allocated for MSMEs at a 20% discount on rental payment;

-At least one percent of the total space available in all government buildings, structures, and open areas allotted for selling area of MSMEs

-At least 0.5 percent for every 5,000 square meters in private malls, supermarkets, shopping centers, commercial selling establishments, structures, or areas allotted for selling area to MSME stores



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