How PSEi member stocks performed — February 7, 2022
Here’s a quick glance at how PSEi stocks fared on Monday, February 7, 2022.
Survey shows plurality expecting end of pandemic in ‘over a year’
ABOUT 45% of respondents to a Social Welfare Stations (SWS) survey expect the pandemic to end in “over a year,” with four out of five taking the position that “the worst is behind us.”
The results of the survey, conducted in December with 1,500 participants, were disclosed on Monday at an Asian Institute of Management webinar.
SWS President and Chief Executive Officer Linda Luz B. Guerrero presented the survey findings, which also indicated that 51% of the sample expect better economic conditions this year.
Of the other respondents providing an estimate of the pandemic’s duration, 29% expect it to end in the first half of 2022, and 23% believe the end will come by the end of the year.
Ms. Guerrero, citing data from Stratbase ADR Institute, said government collaboration with the private sector to accelerate growth is supported by 82% of that study’s participants. They specified areas of cooperation such as job creation, expanding livelihood opportunities, and poverty reduction.
Security Bank Corp. Chief Economist and Assistant Vice-President Robert Dan J. Roces said that first-quarter growth may be dampened by the surge in the Omicron variant of COVID-19, leading to regression in mobility, but a quick recovery is still expected.
“We’re expecting the government to keep the economy as open as possible as long as the hospital situation allows it,” he said during the forum.
“A quick growth turnaround is expected, and we’re expecting several industries to recover with it, based on how they behaved after Delta. You have utilities, manufacturing, construction, wholesale and retail, and transportation and storage,” he added, noting that such industries exhibited capital expansion after the Delta surge died down.
“Another industry that could recover with it is tourism and accommodation,” he added, “that’s going to recover from revenge travel spending.”
The Philippine economy is set to be boosted by “normalizing activity,” Mr. Roces said. Based on his bank’s projections, 2022 growth is expected to come in at 6.5%, with gross domestic product (GDP)of P19.6 trillion.
The economic modeling for such projections incorporate data as of the third quarter of 2021, though Mr. Roces said fourth quarter data later validated the trajectory the bank’s growth estimates.
“It seems the rebound in household consumption will be the key driver,” Mr. Roces said. This will be influenced by the pace at which the country can reach herd immunity, which he believes may be reached by March at the earliest, as well as increased domestic activity, improved sentiment, and higher remittances.
Investment, he added, will also help, supported by domestic consumption, manufacturing activity, business optimism, and election spending to some degree. Government expenditure is expected to grow by 4.5% as revenue collection should rise with the opening of more businesses, while pandemic spending is expected to decline.
On the other hand, Mr. Roces said the primary worry for households is likely inflation. The demand-pull effect will become more pronounced with the rebound in consumption.
“The BSP (Bangko Sentral ng Pilipinas) would likely remain accommodative in the first half to massage the recovery, but if demand-pull becomes more pronounced in the second half, they will likely review policy and institute a policy rate hike at a minimum of 25 basis points up to 50 basis points as a start of a normalization path,” he added.
Meanwhile, the SWS also found that net satisfaction with President Rodrigo R. Duterte remained “very good” as of December.
Ms. Guerrero said the President benefits from a strong base of support, his perceived decisiveness, and his administration’s actions in addressing poverty and the drug war.
However, only 32% of respondents showed approval for his China policy, most of them from Mindanao.
Ms. Guerrero noted that 47% of respondents believe the government is not doing enough to assert its sovereignty in the South China Sea, while 69% said that the country should form an alliance with other countries in defending the territorial and economic rights of the Philippines. They also proposed that the government build structures on vacant islands in the disputed sea.
Richard J. Heydarian, professorial chair on geopolitics at the Polytechnic University of the Philippines, said during the forum that surveys and research show that the country moving towards authoritarianism.
Citing the World Values Survey, he said that only 10% to 15% of Filipinos are committed to institutional checks and balances as a “vast majority of Filipinos expressed openness to authoritarian leaders.”
“It’s not so much Duterte alone himself, it’s also people wanting someone like Duterte, it’s just that he perfectly fits that kind of image, and if you look who’s the frontrunner right now in the presidential race and what that person represents… again we see that it’s a strongman,” he said.
“It’s a very powerful element in Philippine politics,” he added. — Alyssa Nicole O. Tan
Green Energy Auction called feed-in tariff scheme in disguise
A CONSUMER organization has asked the Department of Energy (DoE) to defer the Green Energy Auction Program (GEAP), which it described as a disguised feed-in tariff (FIT) and FIT-allowance (FIT-ALL), which consumers ultimately pay for.
“While it bears a different name, the GEAP is an obvious disguise (for) FIT-ALL and would still result in additional burden for electricity consumers who would eventually have to pay the charges to be remitted to the renewable energy (RE) developers (participating in the program,” Laban Konsyumer, Inc. President Victorio Mario A. Dimagiba said in its Feb. 5 letter addressed to Energy Secretary Alfonso G. Cusi.
Asked to comment, Mr. Cusi told BusinessWorld in a text message that he has yet to receive the letter.
Mr. Dimagiba said that unlike with renewable portfolio standards (RPS), the DoE program which requires power distribution utilities (DU), electric cooperatives, and retail electricity suppliers to source a portion of their energy mix from RE sources, the GEAP does not shield consumers from higher power prices.
“There is no assurance that the resulting Green Energy Tariff (GET) would be lower than recently approved RE-based Power Supply Agreements (PSA) of distribution utilities,” he said.
GET is a feature of the GEAP which influences the commercial value of power generated from qualified RE facilities and sets a benchmark price for DUs under an Opt-in Mechanism.
With the Opt-in Mechanism, the DU can procure power from the GEAP pool of winning bidders to reduce Feed-in Tariff-All charges to the end-users.
The GEAP aims to boost the RE share of the power mix, incentivizing eligible RE generators participating in the bid. The target is for RE to comprise 35% RE of al power sources mix by 2030.
On Jan. 25, the DoE called on RE companies to supply a total of 2,000 megawatts in the first round of the GEAP. — Marielle C. Lucenio
Farmers seek more input in any study of RCEP impact
THE GOVERNMENT needs to carry out an in-depth study on the effects of the Regional Comprehensive Economic Partnership (RCEP), incorporating proper input from the agriculture sector, farmers’ organizations said at a virtual forum.
“We were only informed of RCEP benefits that our country will receive if we ratify this agreement, but they didn’t mention any expected threats or disadvantages. They didn’t give us any assurance that there are safety nets in place to protect our industries. If you don’t identify the threats, you don’t come out with safety nets. We hope that honest-to-goodness assurance from the Senate will be given,” Federation of Free Farmers Chairman Leonardo Q. Montemayor said.
“There was a resolution transmitted from the Committee of Foreign Affairs, but there is no report. This is an unusual committee resolution endorsed to the Senate for concurrence. The senators don’t even know the arguments of the Department of Trade and Industry (DTI) and the Department of Agriculture (DA), because there are different studies with different conclusions. Which of these studies should be closely looked into by the Senate?” Mr. Montemayor said.
“While they are claiming all the advantages of RCEP, from the start they did not cite any threats or disadvantages,” National Federation of Hog Farmers, Inc. President Chester Warren Y. Tan added.
On Feb. 2, the Senate decided not to concur to the ratification of RCEP and adjourned session for the election break.
RCEP is a free trade agreement involving Australia, China, Japan, South Korea, New Zealand and the 10 members of ASEAN.
The farm industry expects to struggle under RCEP, judging by the Philippine experience with the World Trade Organization (WTO).
“RCEP is a more liberalized version of WTO. When we joined WTO, we were not prepared. Other countries make good use of their data to anticipate future problems, so they are able to avert it from happening. Here, it is the opposite. We always wait for it harm our local producers first before our government steps in. RCEP will further damage our industries,” United Broiler Raisers Association President Elias Jose M. Inciong said.
“This agreement favors importers, not our local producers. The mentality of our economists is that we can always import. As far as I’m concerned, we are on dangerous ground,” he added.
Association of Fresh Fish Traders of the Philippines President Roderic C. Santos said that the fishing and aquaculture sector were not consulted on the trade agreement.
“It came as a surprise. We didn’t get to monitor the passage of this agreement. RCEP does not favor local production, it favors products from other countries,” Mr. Santos said.
He said that counterpart industries in other RCEP countries are subsidized, which he does not expect the Philippines to match.
“They receive billions of dollars in support. They are supplied with free water, machines, fuel, boats, and the like. India allocates $50 billion for its farmers. They protect their local industries. Here, it is only cash and food distribution… If we want to be part of RCEP, we have to prepare. We have to know what we’re getting into. This is how we can protect local producers,” he added.
The groups urged the Senate to reject RCEP, claiming that the country is ill-equipped and will likely suffer from the arrangement.
“We are unprepared. We have been appealing to government to prioritize our local producers. It is hard for us to compete against foreign imports. It’s all one-sided and our industries are struggling. We have to strive for self-sufficiency when it comes to food. It is dangerous to rely on imported products. If there is a shortage, what will happen to us?” Mr. Tan of the hog farmers’ association said. — Luisa Maria Jacinta C. Jocson
Restaurant found to be noncompliant with protocols after Alert Level 2 declaration
AN INSPECTION of various establishments after the return to the Alert Level 2 quarantine setting this month resulted in a restaurant in Metro Manila being cited for failure to observe health protocols, the Department of Trade and Industry (DTI) said.
In a statement issued on Monday, the DTI said it inspected five establishments in Mandaluyong City on Feb. 3 and found a restaurant to be noncompliant with the standards set for on-premises dining.
After the inspection, the DTI issued a request for corrective action (RCA) to the restaurant for non-observance of the guidelines set out in Joint Memorandum Circular (JMC) No. 21-02.
The other establishments inspected were in the personal care, cinema, recreational, and fitness industries.
Trade Undersecretary Ruth B. Castelo said the restaurant is expected to submit its response to the RCA, together with evidence that it corrected the issue, within 48 hours from the receipt of the document.
“Otherwise, DTI will recommend to the local government unit (LGU) concerned the suspension of the Safety Seal issued in favor of the establishment or the suspension of the operation thereof if it continues to not observe the DTI-Department of Tourism JMC No. 21-02,” Ms. Castelo said.
Ms. Castelo said at a Laging Handa briefing that at least 100,000 workers are projected to return to work after the quarantine setting for Metro Manila and other areas was relaxed to Alert Level 2.
She said the 30% indoor operating capacity and 50% outdoor operating capacity allowed under Alert Level 3 have increased following the downgrade to Alert Level 2.
Under Alert Level 2, businesses are allowed to operate at 50% indoor capacity and at 70% for outdoor venues.
“According to DTI estimates, we have around 100 (thousand) to 200,000 jobs that will return,” Ms. Castelo said.
The government placed Metro Manila, Bulacan, Cavite, Rizal, Batanes, Biliran, Southern Leyte, and Basilan under Alert Level 2 from Feb. 1 to Feb. 15 following a decline in COVID-19 cases. — Revin Mikhael D. Ochave
Hybrid rice touted as higher yielding despite expense
HYBRID RICE seed is being promoted to farmers as holding the potential for higher yields despite the increased cost compared with traditional seed.
“Hybrid adopters earn more. They can get as much as 260 bags per hectare. Although the farmers spend more in purchasing these seeds, the return or profit also is higher,” Philippine Integrated Rice Program Director Dionisio G. Alvindia said during an online briefing.
As of Jan. 15, 614,619 hectares have been planted to hybrid rice out of 1.52 million hectares of rice land.
“This is one opportunity that we offer to rice farmers to elevate their gain, elevate their productivity, and become more competitive… having more income that they can use for their basic necessities,” Agriculture Secretary William D. Dar said.
Mr. Dar said rice farmers need to “look into the production of hybrid rice to boost production and earn higher profits.”
In 2021, output of palay, or unmilled rice, rose 3.5% to 19.96 million metric tons (MT).
The Department of Agriculture said it expects output to be 20.25 million MT this year. — Luisa Maria Jacinta C. Jocson
DTI signs agreement with platform promoting exports of Philippine-made goods
THE Department of Trade and Industry (DTI) said it has entered into an agreement with online service provider 1Export to facilitate the global distribution of products made in the Philippines.
The DTI said in a statement on Monday that its Go Lokal! Program is collaborating with 1Export’s Kalocal platform to launch a product known as the Go Lokal Surprise Box, a gift box containing Philippine products made by micro, small, and medium enterprises (MSMEs). The box will be initially available in the US and Canada.
“This promotional initiative will help MSMEs transition to cross-border trade as it provides the opportunity for the world to discover Filipino culture through artisanal handicrafts and delectable treats,” DTI said.
Go Lokal! seeks to help MSMEs make their products more accessible to new markets. It supports food and beverage, lifestyle, fashion, home decor, and health and wellness businesses.
“Since its inception in 2016, the Go Lokal! program has partnered with 24 retailers, rolled out 154 stores nationwide, and assisted 859 MSMEs of which 385 have become regular suppliers of partner retailers. To date, the program has generated sales amounting to P428 million,” the DTI said.
Kalocal, the 1Export platform, allows users to order products made in the Philippines at wholesale prices.
“Kalocal aims to help Filipino communities abroad who want to start their own business (by) importing and reselling products directly from local producers and manufacturers by offering competitive pricing for a wide variety of products — from heritage to novelty, from premium to popular and fast-moving brands,” the DTI said. — Revin Mikhael D. Ochave
House committee seeking to highlight agricultural sectors eligible for CREATE perks
THE House of Representatives is working with the Department of Agriculture to come up with a list of agricultural sectors that will qualify for tax incentives, a legislator said on Monday.
Albay Rep. Jose Ma. Clemente “Joey” S. Salceda, who chairs the Ways and Means committee, said that he is discussing the list with Agriculture Secretary William D. Dar.
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) law overhauled the tax incentive system to make them more performance-based and time-bound.
“We will discuss (the list) in a committee hearing on Monday,” Mr. Salceda said in a statement.
The CREATE law is the second package of the Comprehensive Tax Reform Program that also reduces the corporate income tax to 20% from 30%.
Mr. Salceda added that food prices are a major component of the inflation basket, the Philippines needs to invest in agriculture.
“Food prices drive overall prices. Agriculture output drives food prices,” he said. “If we want to keep overall prices in control, we need to invest heavily in agriculture.”
He added that he expects the amended Agri-Agra law, which will be passed soon, to fund more agricultural activity.
He added that the law, which requires financial institutions to observe lending quotas for agricultural ventures but has met with uneven compliance, has been expanded to include investments like cold storage and agricultural infrastructure.
Mr. Salceda said that the government needs to invest in improving crop yields, reducing waste and improving marketing to encourage farmers to produce food.
“Farmer financial security and national food security are closely tied. If you want farmers to keep farming keep the farming business profitable,” he said. — Jaspearl Emerald G. Tan
ARTA to track ease of doing business progress using World Bank norms
THE Anti-Red Tape Authority (ARTA) will work with other government agencies to introduce an Ease of Doing Business (EoDB) tracking system to monitor how the Philippines stacks up against World Bank standards for streamlining red tape.
During the virtual signing on Monday, ARTA Director-General Jeremiah B. Belgica signed a joint memorandum circular with the Departments of Trade and Industry (DTI), Interior and Local Government (DILG), Finance (DoF), Information and Communications Technology (DICT), Budget and Management (DBM), the Office of the Presidential Adviser on Streamlining of Government Processes, the Development Academy of the Philippines, and the National Economic and Development Authority.
ARTA Deputy Director General Ernesto V. Perez said the reporting system seeks to measure the quality of regulatory practices that affect EoDB and the business climate.
According to Mr. Perez, the EoDB tracking system will measure government process according to the norms set in the World Bank study.
“For its pilot implementation, the Philippine EoDB Reporting System will initially generate a baseline measurement based on ARTA’s estimates of the indicators measured by the Doing Business Report using the World Bank Doing Business scoring system, methodology and assumptions refocused to the Philippine setting,” Mr. Perez said.
Mr. Perez said the reporting system will be pilot-tested in Parañaque City, Pasig City, Pasay City, Valenzuela City, and other highly urbanized areas outside Metro Manila.
“It will affect our countrymen in a positive way. They will be assured that even with the suspension by the World Bank of its annual Doing Business report, the Philippines will continue it with the sole purpose of continuing not only the initiatives we started with the World Bank, but having our own localized version,” Mr. Perez said.
“It will assure our people as required by the EoDB law (Republic Act No. 11032) that when they deal with government agencies… they will be assured that the processes are streamlined at reduced number of documentary requirements and reduced number of steps for shorter processing time,” he added.
The Philippines ranked 95th out of 190 economies, according to the World Bank Doing Business Report 2020. The World Bank Group announced last year that it will discontinue the report as a result of irregularities in the 2018 and 2020 editions. — Revin Mikhael D. Ochave
Request for BIR confirmation due in April
For most businesses in the Philippines, the first quarter of the year demands compliance: annual registration renewals, filing of tax returns, submission of financial statements, and payment of taxes. Corporate and tax practitioners have infamously tagged this period as the busy season in which they find themselves working round the clock, often fueled with multiple doses of caffeine.
Businesses operating on a calendar year basis are required to file their annual Income Tax Returns (ITR) on or before April 15. Apart from the usual filing of the ITR, taxpayers must also be reminded that there is another BIR Form that needs to be filed on or before the last day of April — the request for confirmation (RFC) on the propriety of the tax treaty rates applied by withholding agents covering the latter’s pertinent transactions during taxable year 2021. The RFC is to be filed with the Bureau of Internal Revenue — International Tax Affairs Division (BIR-ITAD).
When a Philippine taxpayer transacts with a nonresident foreign corporation or a nonresident alien not engaged in trade or business, the taxpayer acts as a withholding agent and is required to withhold taxes due on the income payments derived by the nonresident from all sources within the Philippines. The withholding agent is responsible for determining whether to apply the regular tax rates, tax exemptions, reduced rates, or the relevant provision of the applicable tax treaty when dealing with residents of a foreign country that has a double tax agreement with the Philippines.
In Revenue Memorandum Order (RMO) No. 14-2021, the BIR provided that if the withholding agent applied the tax treaty rates on the income earned by the nonresident, the withholding agent must file with ITAD a request for confirmation on the propriety of the withholding tax rates applied on that item of income. Thus, a request for confirmation applies to all income derived by nonresidents from Philippine sources that may be entitled to relief from double taxation under relevant tax treaties.
Revenue Memorandum Circular (RMC) No. 77-2021 highlighted that the RFC with complete documentary requirements is to be filed by the withholding agent depending on the type of income. For capital gains, the date of filing is at any time after the transaction but not later than the last day of the fourth month following the close of the taxable year when income is paid or when the transaction is consummated. If the taxpayer observes a calendar year, then the fourth month falls on April 2022 for 2021 transactions.
For other types of income, the date of filing is any time after the close of the taxable year but not later than the last day of the fourth month following the close of such taxable year. These other types of income include business profits, dividends, interest, royalties, and other income not expressly mentioned in the tax treaty. Consequently, if the taxpayer observes a calendar year, then the fourth month will fall in April 2022 for 2021 transactions.
In RMC 77-2021, the BIR declared that applications with incomplete documents will no longer be accepted. Accordingly, it is imperative upon the withholding agent to ensure that all documents in support of the RFC are complete. Hence, for 2021 transactions, withholding agents should already be preparing during this time for the upcoming April 2022 deadline.
It should be noted that documents issued, signed, and executed abroad are required to be authenticated. Considering that the Philippines is a party to the Hague Convention, a foreign public document will only need to be apostilled by the competent authority in the foreign state in order to be recognized and used in the Philippines. However, the apostille only applies if both the country where the public document was issued and the country where the public document is to be used are parties to the Convention. Otherwise, the document is required to be notarized abroad and further authenticated by the Philippine consul in the foreign country signing and affixing a red ribbon to the document. In addition, if the documents are in a foreign language, they are required to be translated in English by a certified translator.
Another documentary requirement which may take some time to secure is the Certificate of Non-Registration of the foreign company duly issued by the Securities and Exchange Commission (SEC). Since the SEC receives numerous requests, the certificate may be obtained weeks or even a month after request and payment of the certification fees.
The documents that the BIR-ITAD requires are important to prove the entitlement to the benefits of a tax treaty. Indeed, the procurement and authentication of documents may be challenging and may take extra effort and time. Thus, withholding agents should start collating the required documents as early as possible to ensure that complete documents are filed with the BIR on time.
The list of documents required to be prepared for the upcoming April 2022 deadline for RFCs is found in the annexes of RMC 77-2021. Failure to file the RFC within the prescribed deadline will result to penalties.
As we bustle our way into the tax season with tight deadlines in mind, let us be reminded that being prepared is half the battle.
Let’s Talk Tax is a weekly newspaper column of P&A Grant Thornton that aims to keep the public informed of various developments in taxation. This article is not intended to be a substitute for competent professional advice.
Azanith Ann B. Payad is an associate from the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd.
COVID infections below 10,000 for 7th straight day
PHILIPPINES posted 6,835 coronavirus infections on Monday, the seventh straight day the tally remained below the 10,000 mark.
This brought the total to 3.6 million, the Department of Health (DoH) said in a bulletin. The death toll hit 54,538 after 12 more patients died, while recoveries rose by 16,330 to 3.45 million.
The agency said 19.1% of 36,773 samples tested positive for the coronavirus on Feb. 5, way above the 5% threshold set by the World Health Organization (WHO).
There were 116,720 active cases, 7,806 of which did not show symptoms, 103,900 were mild, 3,184 were moderate, 1,495 were severe and 335 were critical.
DoH said 98% of the latest cases occurred on Jan. 25 to Feb. 7. The top regions with new cases in the past two weeks were Metro Manila with 949, Western Visayas with 822 and Central Visayas with 624 infections. All of the deaths occurred in January.
The Health department said 16 duplicates had been removed from the tally, four of which were reclassified as recoveries, while 12 recoveries were relisted as deaths. Two laboratories failed to submit data on Feb. 5.
It added that 41% of intensive care unit beds in the country had been used, while the rate for Metro Manila was 33%.
Daily coronavirus infections in the Philippines might drop to 4,000 by mid-February and to as low as 1,000 by the end of the month, the OCTA Research Group from the University of the Philippines said at the weekend.
Daily infections in Manila, the capital and nearby cities might return to the pre-Omicron surge level by the end of February if the decline continues, OCTA fellow Fredegusto P. David tweeted.
The national average daily cases fell further to 8,442 on Feb. 1 to 5, from 17,025 a week earlier and from 28,666 two weeks earlier.
The Philippines and other countries have started easing lockdowns amid hopes that the highly mutated Omicron variant, which was first detected in South Africa, might have peaked.
The country is set to allow the entry of fully vaccinated nationals of non-visa countries starting Feb. 10, almost two months after it suspended a plan to welcome back foreign tourists due to the threat of the Omicron variant.
Mr. David said a potential influx of foreign travelers might lead to another spike. “Spikes in cases could happen but this is dependent mostly on a new variant,” he said in a Facebook Messenger chat.
The World Health Organization has said some countries with high immunity rates, strong healthcare systems and decreasing coronavirus infections and deaths could now consider easing restrictions, according to a report by the Los Angeles Times.
The Philippines is scrambling to vaccinate more people as it reopens the economy. It had fully vaccinated 59.81 million people as of Feb. 4, while almost 60.66 million have received their first dose, data from the Health department showed. More than eight million booster shots have been given out.
Senators slam gov’t plan to vaccinate kids without consent
A SENATOR on Monday opposed a government plan to vaccinate children without their parents’ consent.
“If the parent is not agreeable to it, it should be respected,” Senator Ana Theresia “Risa” N. Hontiveros-Baraquel told reporters at a news briefing in Filipino, adding that the state should use information campaigns to fight vaccine hesitancy.
The Health department earlier issued a memo allowing willing children to get vaccinated without their parents’ consent.
Under the memo, the state may act as the legal protector of citizens unable to protect themselves.
The government started vaccinating children aged 5 to 11 against the coronavirus on Monday. It was supposed to start on Feb. 4 but was pushed back after the first batch of vaccine delivery got delayed.
Almost 800,000 doses of the vaccine made by Pfizer, Inc. finally arrived on Friday night.
The Pfizer vaccine is the only shot approved for emergency use by kids aged 5 to 11 years. The vaccine has a lower dosage and concentration compared with the one given to the 12 to 17 age bracket.
The Philippines started vaccinating minors 12 to 17 years in October. The vaccination of children aged 5 to 11 years started in six sites in the capital region.
Vaccination sites included the Philippine Heart Center, Philippine Children’s Medical Center, National Children’s Hospital, Manila Zoo, SM North Edsa and Fil Oil Gym in San Juan City. It will be expanded to Central Luzon and the Calabarzon region on Feb. 8.
“Even in the midst of a pandemic and recession, parents want confidence when it comes to the health of their children as we are also returning to work and employment,” Ms. Hontiveros said.
“This issue also needs to be settled properly,” she said, adding that hopefully, it doesn’t have to reach the courts.
In a separate statement, Senator María Imelda Josefa “Imee” R. Marcos said the government cannot usurp parental authority. “Parents have the right to decide on the health and safety of their children.”
“I hope this push to vaccinate kids is really for their sake and not for the sake of vaccine purchases already made,” she added.
Health Undersecretary Myrna C. Cabotaje, who heads the Philippines’ National Vaccine Operations Center, had said the government seeks to inoculate 15.5 million children aged 5 to 11 years.
“Let’s prioritize the elderly and not lose sight of fully vaccinating the most vulnerable groups before rushing to vaccinate healthy kids,” Ms. Marcos said.
She cited the World Health Organization’s call for governments to first achieve a high level of vaccination among high-risk groups before vaccinating minors.
As of Friday, 59.8 million have been fully vaccinated against the coronavirus, while 60.7 million have received their first dose. About 8 million people have received booster shots.
The Health department on Friday said more than two-thirds of coronavirus cases among the pediatric group in January were children aged 11 years and younger.
More children got infected with the coronavirus during the recent surge spurred by the highly mutated Omicron variant, it said.
Kids aged 11 years and younger accounted for 56% of the total pediatric cases in September, when the Delta variant spurred a spike in infections. — Alyssa Nicole O. Tan