MANILA — Ironic as it may seem but the private sector beats the national Government to the draw in securing vaccines for the novel coronavirus disease (Covid-19) particularly in the case of Ramon Ang’s San Miguel Corporation that will be spending ₱1 billion to inoculate some 70,000 workers.
The giant conglomerate kept mum which brands it would buy, but said it secured Covid-19 vaccine deals “from various sources.”
“Our program is in line with our core value of malasakit (compassion) and aims to create a safe and healthy workplace so that we can further contribute to our country’s economic recovery,” says San Miguel president Ramon Ang whose supporters are egging him to run for president in 2022.
Although San Miguel posted only a net income of ₱10.74 billion from January to September 2020, down by 73% it was still among the big companies in November 2020 that placed orders through advance market commitments—a financing mechanism that assures funders of the vaccine once it is produced.
Ang points out that vaccination will be voluntary, but he hopes that all employees will sign up.
It is noted that the private sector is the first to move to get vaccine deals. However, for companies to get their employees vaccinated, they struck a deal to donate half of their purchases to the government that will scrutinize all vaccine procurements. (BG/Headline PH)