Connect with us

Hi, what are you looking for?

Economy

Congressmen seek P500-M fund for vaccine harm or loss

CONGRESSMEN are considering creating a P500-million fund that will cover damage claims in case people get sick from coronavirus vaccine shots.

The fund will cover any adverse effects and ensure that the government’s vaccination program goes smoothly, Quirino Rep. Junie E. Cua said in his sponsorship speech on Wednesday.

The clause was inserted in House Bill 8648, which will also allow local governments to bypass procurement rules in the emergency purchase of vaccines.

Meanwhile, Albay Rep. Jose Maria Clemente “Joey” S. Salceda  said the government should prioritize rolling out its vaccination program if it plans to further ease the general lockdown in Metro Manila.

Economic output in the capital region could grow by as much as 2.3% this year once it shifts to a modified general community quarantine (MGCQ), he said in a statement.

“That’s a very generous estimate that considers no sudden shifts back to a general community quarantine (GCQ), or no sudden spikes in infections,” Mr. Salceda said.

“The economic impact is probably closer to between 0.5% and 1.4%, which is not nothing, but it can be better with a more ambitious vaccination plan,” he added.

Mr. Salceda’s recommendation came after the National Economic and Development Authority (NEDA) this week sought to ease lockdown to fast-track economic recovery. — Gillian M. Cortez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

KAI Sotto has taken his talents from Australia to Japan to play for the Hiroshima Dragonflies. The Dragonflies yesterday announced the signing of the...

Economy

AFTER a 17-year wait, Grandmaster (GM) Darwin Laylo is back on top as the country’s top chess player. The 42-year-old Mr. Laylo recalled the...

Economy

PHILIPPINE pool queen Rubilen Amit is far from calling it a career. But when the time comes, she hopes to leave a legacy not...

Economy

CAVITE Governor Jonvic Remulla will take the place of Samahang Basketbol ng Pilipinas (SBP) President Al Panlilio as the country’s chef-de-mission (CDM) to next...

Economy

THE PREMIER League (PL) has referred Manchester City to an independent commission over more than 100 alleged breaches of finance rules since the club...

Economy

PHOENIX Suns President and CEO Jason Rowley resigned Monday, hours before the team’s sale was officially approved by the National Basketball Association (NBA) Board...

You May Also Like

Investing

Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.